Gemini Israel Ventures buys out Xenia and becomes a shareholder in SAManage
Cary, NC January 7, 2013 — SAManage, the leader in SaaS Service Management software announced today that Gemini Israel Ventures has acquired the shares of Xenia Venture Capital in the Company.
SAManage provides SaaS IT asset and service management solutions that help organizations better control their IT inventory, organize licenses and contracts, and detect risks and license compliance gaps. In September 2012, SAManage completed a $3 million investment round from Carmel Ventures.
Gemini Israel Ventures is a leading venture capital firm with $700M under management and vast experience in enterprise software. Gemini singled out SAManage for its rapid growth in a segment of the market that is rapidly moving toward SaaS due to the ease-of-use and a significantly lower total cost of ownership that it affords.
“We are excited to become a shareholder in SAManage. The experienced SAManage team has delivered an offering that provides the quickest time to value and holds a significant edge over other offering in the Service Management arena,” said Yossi Sela, Managing Partner at Gemini Israel Ventures. “The SAManage team is focused on growth and customer experience and has delivered rapid growth thus far.”
“We welcome the participation of Gemini Israel Ventures as we continue to build SAManage”, said Doron Gordon, CEO and founder of SAManage. “We are seeing a strong demand for easier to use and more cost-effective Service Management software. At SAManage we believe that people deserve modern software tools they’ll love to use, and we built out Service Management solution exactly for that reason.”
“We are pleased to have Gemini join us on board and assist in supporting and taking SAManage to the next phase of growth as they build a significant company.” said Ronen Nir, Partner at Carmel Ventures.
SAManage SaaS Service Management solution provides people with instant visibility into service and IT management across their organization. Customers can easily track the technology assets they own and use, as well as deliver a modern, easy to use service desk, resulting in a superior support experience for their employees. As a SaaS based solution, there is no software to install and maintain and no servers to manage, and customers get up and running in hours, not days or weeks. To learn more about SAManage visit www.samanage.com.
SAManage provides SaaS IT asset and service management solutions that help organizations better control their IT inventory, organize licenses and contracts, and detect risks and license compliance gaps. SAManage empowers companies of all sizes with IT management capabilities that were previously available only to large organizations, making it easy to automate and simplify the daily tasks associated with establishing IT governance, control, compliance, and user satisfaction. Visit www.samanage.com to learn more.
About Gemini Israel Ventures
A pioneer in Israel’s venture capital industry, Gemini Israel Ventures is a leading early and seed stage investor in the information technology arena. The firm, founded in 1993, manages $700 million in five funds, with investments focused in the areas of mobile, digital media, enterprise software, online services and semiconductors. The firm prides itself on always being on the cutting edge of innovation and seeking out only the most disruptive ideas. For more information, please visit www.gemini.co.il
About Carmel Ventures
With over $600 million currently under management, several successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel’s top-tier venture capital funds. Carmel’s investments are focused primarily on early stage companies in the fields of Software, Internet, Digital Media, Communications, Semiconductors, and Consumer Electronics. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. Carmel, headquartered in Herzliya, Israel enjoys a worldwide network of industry, strategic and investment resources. Carmel is an affiliate of the Viola Group, the largest technology focused Private Equity group in Israel with $2B under management. For more information, please visit http://www.carmelventures.com.