Right Hemisphere has received an equity investment from SAP Ventures, the venture capital arm of German software giant SAP. Munich Venture Partners also participated in the investment, the company announced this evening.
Right Hemisphere was, however, not prepared to disclose the amount or the terms of the investment.
Right Hemisphere’s software integrates with major product data management (PDM) and product lifecycle management (PLM) systems to enable the re-use of accurate, up-to-date product information across the enterprise. The company already counts DaimlerChrysler, Bell Helicopter, Sikorsky and others as customers.
“We believe Right Hemisphere has identified the next frontier for sweeping enterprise-wide process improvements. With an open, automated approach to sharing and publishing 3D product information, Right Hemisphere is adding great value by eliminating the time-consuming downstream process inefficiencies that traditional PLM solutions have failed to address,” Nino Marakovic, a partner at SAP Ventures, said in a statement.
“The company’s solutions, standards-based approach, and ROI have resonated very, very well with Fortune 1000 manufacturers of complex products. We anticipate an enormous market opportunity for Right Hemisphere with this new emerging class of enterprise software.”
Right Hemisphere CEO Michael Lynch said the investment was another validation of the company's technology.
“With SAP Ventures joining the ranks of our other investors — Sequoia Capital, Sutter Hill Ventures, and NVIDIA — and our strategic partners — Adobe Systems and Microsoft Corporation — there’s no denying that we have struck a powerful nerve in this industry," he said.
Join the Computerworld LinkedIn Group. This group is open to IT Leaders, MIS & IT Managers, Network & Infrastructure Managers who share insights, discuss challenges & wins and keep abreast of cutting edge technologies.