PeopleCube Secures $17 Million in New Venture Capital Funding

PeopleCube, the leader in on-demand calendaring, resource and event management solutions, recently announced it has received a new round of funding through the purchase of all outstanding shares in the company by investment firms Truffle Capital and Big Bang Ventures. This infusion of additional working capital will be used to expand PeopleCubes business in Europe, accelerate and enhance product development, and provide additional partnership opportunities worldwide. The deal also solidifies PeopleCubes position as the premiere developer of innovative resource management software solutions.

PeopleCubes calendaring, resource and event management solutions allow organizations to increase productivity and reduce costs by streamlining scheduling processes and improving overall operational efficiency. The companys customers include more than 7,500 companies across multiple industries, including more than 60 of the Fortune 500. The company recently announced that it has secured several new U.S. customers in targeted industries, including Bank of America and Wachovia. PeopleCubes on-demand and on-premise solutions are used by nearly 5 million people every day. The company also recently launched the latest version of Resource Scheduler, a web-based resource management solution that allows users to quickly and easily reserve resources of all types from meeting rooms, training rooms, and A/V equipment to vehicles, athletic fields, and shared workspaces in an office hoteling (or hot desking) environment.

PeopleCube is a global company and the leader of the Resource Scheduling software market, said Bernard-Louis Roques, general partner and founder of Truffle Capital. In addition, PeopleCube has successfully made the transition to a SaaS (Software-as-a-Service) vendor, thus enhancing its leadership in both the U.S and Europe. We have been greatly impressed by its innovation, R&D resources and the world-class quality of its products. The PeopleCube management team has done a tremendous job of positioning the company for further success in this very promising market with tremendous global growth potential.

Global market pressures are forcing companies to reevaluate their internal processes in order to become more productive in less time, and PeopleCubes solutions have always led the way in making organizations run more efficiently, added Barend Van den Brande, managing partner at Big Bang Ventures. PeopleCube is well positioned in this space and it is our firm belief that by providing additional working funds, the company will be able to sustain aggressive growth through new market and partnering channels.

Our vision as a company has always been to provide customers with the most innovative and reliable scheduling solutions available, said John T. Anderson, president and CEO of PeopleCube. The infusion of additional investment dollars allows us to broaden and strengthen our product offerings while opening the door to new partnership opportunities required for expanding our reach into new and growing global markets.

PeopleCube is a leading provider of on-demand calendaring, resource and event management solutions for organizations of all sizes. Their suite of scheduling products have helped more than 7,500 customers worldwide in education, high tech, healthcare and government optimize their people, processes and schedules to improve productivity, increase revenue and reduce costs. With headquarters in Waltham, Massachusetts and offices throughout the U.S. and Europe, PeopleCube has grown consistently through organic growth and strategic acquisitions.

For more information, please visit www.peoplecube.com