HardMetrics Inc. Raises $4 Million in Series A Financing

Hardmetrics, Inc., announced recently that the company has closed a Series A round of financing. To date $2 Million has been committed and was co-led by NextStage Capital, L.P., and Osage Ventures, followed by SilkRoad Equity, HardMetrics’ initial outside investor. The remaining $2 million will be made available to HardMetrics when the company hits specific growth milestones and if the company chooses to draw on the additional investment. The new capital infusion will be used to build upon HardMetrics’ initial success in the contact center market and to fuel expansion into other market segments.

HardMetrics’ CEO, Don Saunders, and President Rob Winner funded early research and product development. Each of these software veterans brings over 25 years of performance management experience to the company. “Our vision is to make performance management ubiquitous in business process management at any level of the enterprise in any size organization,” commented Saunders. “We have engineered out the excessive cost, time and expertise required by traditional performance management systems. In its place we have engineered in “end-user self- service” that minimizes the burden on IT departments to support never-ending user requests for analytic business views. Like Henry Ford, we focused on ‘building a car’ that everyone can afford, use and maintain.” HardMetrics has already secured a dozen customers, including two of the nation’s top ten cable companies.

HardMetrics’ business performance management solution enables enterprises to proactively monitor and measure progress against organizational goals.

“Implementing performance management systems should not require a protracted development project – the key for users is seeing the benefits at the speed of their business,” Richard Snow, VP and Research Director at Ventana Research. “When selecting a performance management technology, we advise businesses to seriously consider HardMetrics as an option because of the product’s capabilities, its speed of implementation, depth of functionality and ease of use.”

“What makes HardMetrics unique is not what we do, but rather how we do business performance management,” said Winner. “Our technology approach requires no software programming or customization. We have done away with the need to build cubes, model databases, hard wire complex connectors or data extraction code to data sources. By making it seamless to derive actionable intelligence from any data source without sacrificing any business or technology requirement, we have made it easy to put the right metrics in the right hands.”

Rob Adams, managing director at NextStage Capital, added: “Our investment in HardMetrics is in a market changing technology that will drive business performance forward without having to throw a lot of resources, expertise and money at the problem. For an early stage company, HardMetrics’ track record is impressive.  HardMetrics’ growing customer base, channel partnerships and revenue underscore the company’s relevance to the market place. We have every confidence in the seasoned management team whose combined experience spells innovation and success.”

“During our due diligence, we quickly realized that HardMetrics hit on a truly unique way of addressing business process performance problems,” commented Darren Wallis, managing partner at Osage Ventures. “Customers we spoke with raved about how easy it was to implement and use the HardMetrics solution. They reported saving more than 80% of the time, effort and cost previously required to monitor and manage business performance. As one customer noted, ‘Prior to HardMetrics, it was just too difficult to get data together to understand the impact of our contact center on the bottom line. Now with HardMetrics we can do analysis in an instant and have faith in the answers. Unequivocally our business is better today than it was a year ago’.”  Adams and Wallis have joined HardMetrics’ Board of Directors.

For more information please visit www.hardmetrics.com