By Keren Tsuriel
Globes, March 13, 2000
Israeli company ProSight of the BRM group has completed a second capital raising round, in which it raised $10.6 million.
ProSight develops applications for large software organizations, which support the an organization’s entire management chain, including external business partners.
Barkat joint general manager Nir Barkat today said that the capital raising round was led by BRM, with the participation of US funds Prism and Sequoia. BRM declined to disclose the value of ProSight at which the deal took place.
ProSight was founded two years ago by BRM at an investment of $2.2 million. In accordance with BRM’s strategy, the company offices, including management and marketing, are located in the Portland, Oregon in the US, near the customers, while the company’s R&D center is located in Jerusalem.
Amir Ofer, one of the founders of ProSight, said that the company’s products significantly improve the internal functioning of a software organization. He noted that the product measures organizational and technical parameters of significance
to management, such as personnel turnover, delays in carrying out programming tasks, and tracing high risk elements in the course of development.
BRM is an investment company focusing on investments in Israeli start-ups in the field of Internet infrastructures in the seed or growth stage. The company has earmarked $100 million for investments of this type through its offices in Jerusalem and New Jersey in the
US.
Published by Israel’s Business Arena on March 13, 2000