July 21, 2008, Appian Corporation announced the completion of a $10,000,000 Series A funding by Novak Biddle Venture Partners. Appian is an innovative global provider of business process management (BPM) technology. Outcome Capital acted as financial advisor to Appian on this transaction.
Novak Biddle co-founder and general partner Jack Biddle will join the Appian Board of Directors. Appian will use the funds to expand its leadership position in the market, and to invest in market adoption of its industry-changing Appian Anywhere software-as-a-service (SaaS) product, built on the award-winning Appian Enterprise BPM Suite.
“With analysts predicting a significant growth pattern for the industry over the next several years, Appian is well positioned to emerge as the leading pure play BPM provider,” said Jack Biddle, general partner at Novak Biddle Venture Partners and Appian board member. “Their ability to bootstrap the business to this point is a strong indication that Appian’s product offering and market strategy — implemented by an experienced management team — are meeting organizations’ complex and diverse needs.”
Terms of the transaction are undisclosed.
About Appian Corporation
Appian is the BPM pure-play expert. Appian leads the market in BPM innovation, delivering comprehensive, flexible and easy-to-use solutions customized to the unique needs of individual organizations. Businesses and governments worldwide use Appian to simplify process innovation with the real-time visibility, control and analytics needed to improve the critical processes that determine business performance. Appian allows all users across the organization to effectively collaborate and be part of the process of achieving corporate goals. Appian is headquartered in the Washington D.C. region, with professional services and partners around the globe. For more information, visit www.appian.com.
About Novak Biddle Venture Partners
Novak Biddle Venture Partners is a leading early stage venture capital firm focused on unique, cutting-edge technology investments in the Eastern United States, as well as targeted opportunities nationwide. With $580 million under management, Novak Biddle operates five venture funds that currently provide equity financing and management assistance to 42 portfolio companies. Novak Biddle continues to seek business situations where the combination of ideas, dollars, experience, and relationships can create long term, sustainable value. A sampling of companies funded by Novak Biddle include: RFID first-mover Matrics, voice over IP trailblazer Telogy, education technology leader Blackboard Inc. and intelligent video surveillance pioneer ObjectVideo. For more information, visit www.novakbiddle.com.
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