Siennax Secures 14 Million Euro
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Netherlands-based ASP Siennax International BV received a new round of funding this week, securing a 14 million Euro investment from key venture capital firms.
This second round of funding was led by Dutch bank ABN AMRO Participaties (The Netherlands) with investments from BHF Bank (Germany), CapMan Capital Management Oy (Finland), Residentie Investments (The Netherlands), Sonera Corporation (Finland) as well as by Siennax's original investors such as Prime Technology Ventures, HGP and Siennax's management and staff. The funds will enable Siennax to continue to build its successful one-to-many application delivery architecture and business applications portfolio.
"This funding demonstrates that there is trust in the ASP market for ASPs with a true one-to-many business model and strong relationships with leading ISVs," said Herb Prooy, CEO and co-founder of Siennax. Siennax is one of the biggest European ASPs serving 15,000 users with collaborative applications.
"As investors, we clearly see the potential for Siennax to continue on its solid growth path. Subsequently, Siennax has proven that it understands the ASP market better than most of their competitors," said John Wong, senior investment manager with ABN AMRO Participaties, a business unit of the investment arm of Dutch bank ABN AMRO.
"In only nine months, Siennax managed to set up solid operations in Germany. Its market entry in Germany has been facilitated by its successful track record with well known clients such as KPN, Solvay and Abz. We are convinced that there is a market for ASP services in the field of collaborative applications and believe that Siennax has the technology and products to become a reliable partner for German clients," says Clemens Busch, investment director at BHF Private Equity.
Siennax hosts collaborative applications for business users spread over geographically diverse locations. Working within the one-to-many model, Siennax offers both standard and customized applications via the Internet, including secure e-mail, Intranet, Extranet, e-commerce, e-Learning, e-CRM, Knowledge management and document management applications.
Based on the web, these are accessible to clients over the Internet and via Wireless Application Protocol (WAP) devices. Siennax has partnerships with Microsoft, IBM Lotus, Sun-Netscape, Oracle, SABA, Scope, Zapwerk and Documentum. For more information, see
Siennax was formed in May 1998 and is privately held by management and staff, Twinning, Prime Technology Ventures and HGP. Headquartered in Amstelveen, the Netherlands, Siennax also has offices in Enschede and Eindhoven. Siennax's German offices are based in Kassel, Hamburg, Dusseldorf and Munchen.