Monday, February 2, 2009

Rally Software: Doubled Subscription Revenue In 2008

Boulder, Colorado-based Rally Software is reporting today that the firm doubled its subscription revenues in 2008, saying that it increased its customer base by 70 percent in the year. The privately firm, which develops Agile software development products, did not released actual revenue numbers. The company said that it is looking to "thrive" in 2009, even with the tough economic climate, saying that the firm's products helps development organizations lower their costs. Rally Software is venture backed by Mohr Davidow Ventures, Boulder Ventures, Mobius Venture Capital, and Vista Ventures, and recently closed $16.85M in a Series C funding round. Rally's software is used by development teams to implement Agile software programming techniques, a method where software can be more responsive to changes and where products can be developed quicker.