Softricity Plugs Into $25 Million

Softricity, a Boston startup developing delivery systems for business e-business software, has launched with $25 million in
financing from Longworth Venture Partners, Prism Venture Partners and Hikari Tsushin.

“By smoothly evolving today’s prohibitive ownership infrastructure to a more centralized, usage-based service delivery structure, Softricity is creating unprecedented
market opportunity,” said Prism’s David Baum.

The company plans to sell its patent-pending products to software vendors, systems integrators and network and applications service providers.

Softricity is led by CEO Harry Ruda, who most recently held the top job at ITS, a provider of video access equipment for Internet protocol and ATM networks.
David Greschler, whose worked at MIT’s media lab, is president and co-founder of the company.

The company today also named Rick Hronicek as executive vice president of sales and business development, ex-CEO of Xevo, a maker of service management
software for the ASP market.

Ruda summarized said, “Softricity is addressing one of the market’s clearest and most economically compelling needs, and — in the process — has become a magnet
for the industry’s top talent.”

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