PrecisionPoint Software Raises First Institutional Funding Round From Herald Ventures

Leading UK Venture Capital Fund, Herald Ventures II, Invests £1 Million ($1.95 Million) in PrecisionPoint Software as Microsoft(R) Dynamics(TM) Business Intelligence Market Gains Momentum.

LONDON and WALTHAM, MA -- (MARKET WIRE) -- PrecisionPoint Software, the company that brings sophisticated business intelligence (BI) to Microsoft® Dynamics™ NAV, AX, and GP ERP application products, today announced that it has received its first institutional round of venture funding of £1 million (US $1.95 million) from the Herald Ventures II fund managed by London-based Herald Investment Management.

"PrecisionPoint Software really stood out as an investment proposition from the strength and consistency of its customer references -- testimony to the underlying technology and the design of the product. Our investment will enable PrecisionPoint to take this to market," said Herald founder Katie Potts.

The funding has enabled PrecisionPoint Software to strengthen its management team and invest in marketing programs and to engage more channel partners around the globe. Partners include Microsoft Dynamics resellers, BI Consultants as well as BI tool vendors seeking a data warehouse platform to deliver a complete solution for the enormous Microsoft Dynamics market.

"The Herald investment has boosted our ability to make our presence felt in important markets like the US where we are building a healthy customer base with brand names like Twinings and Steinway & Sons and in Europe with customers like Ryvita and TomTom," adds PrecisionPoint Software founder and CEO Dr. Nigel Geary.

PrecisionPoint Software has recently launched PrecisionPoint Business Warehouse version 3.0, an enterprise-caliber platform for interactive reporting and analysis that extends data access and reporting functionality by providing full compatibility with Microsoft® SQL Server 2005™, ProClarity™, Microsoft® Office 2007™, Reporting Services, and SharePoint Services.

"Anyone who has Dynamics NAV should also be using the PrecisionPoint Business Warehouse."