Jama Software has raised $33M, plans to use funding to hire 50 to fill downtown office.
BY JACOB PALMER | DIGITAL NEWS EDITOR
After securing $20 million in series C funding, Jama Software has now raised a total of $33 million and plans to hire 50 to fill its downtown Portland office.
Portland Business Journal first reported the deal Monday.
CEO Eric Winquist said the round will help the company add capabilities to its collaboration software, especially for customers that are in highly regulated areas such as medical devices, financial services and consumer electronics.
Jama’s product helps customers through their own product design process. The software allows the right people to collaborate at the right time in the development cycle. Initially, the company worked with clients who build highly complex products in markets such as medical and aerospace. However, as the Internet of things and wearables have taken off, complexity has come to more markets.
Trinity Ventures, Madrona Venture Group and the Oregon Angel Fund were all return investors, while Updata Partners joined Jama’s list of investors.
Updata previously invested in Portland-based Viewpoint construction Software and, in January, bought a majority stake in Portland-based Ruby Receptionists for $38.8 million.
“Jama has a modern product that solves the real problems companies have delivering innovation. We are thrilled to partner with them on the next phase of their growth,” said Updata parnter Jon Seeber, who joins Jama’s board as part of Monday’s deal.