VersionOne, a developer of project planning and management software, has closed on $65 million in venture financing.
OpenView Venture Partners made the investment, which is the first outside funding VersionOne has taken. The company launched in 2002.
OpenView is based in Boston.
VersionOne will use the funds to expand sales and marketing efforts. The company says it has more than 3,000 teams of users around the world, including 20 at Fortune 100 firms. Its Web-based products are used for planning and managing software development projects.
“This investment was the right strategy at the right time for capitalizing on the fundamental shift in the way software is delivered in today’s rapidly changing business environment,” said VersionOne Chief Executive Officer Holler.
