Israeli startup Capriza was founded to develop a mobile solution for apps designed for the enterprise market. The company’s product is a software-as-a-service (SaaS) platform that enables enterprise customers to carry out business activities with existing enterprise software systems, such as SAP, Oracle, and Salesforce, simply and safely, using any mobile device with a contact screen, whether smartphone, tablet, or laptop.
Late last week, the startup announced the completion of a $23 million financing round led by venture capital firm and previous investor Andreessen Horowitz. Capriza is the first Israeli startup that the prominent VC firm has invested so heavily into. The round also included participation from existing investors Charles River Ventures, Tenaya Capital, and Harmony Partners, and new investors Entre Capital and Vintage Investment.
Anything to enable you to work as usual
Capriza Co-founder and CTO Oren Ariel explained to Geektime, “Traditionally, the transition to mobile involves either very expensive and slow development of new interfaces for the same enterprise systems or dependence on the business software provider itself for support of a mobile interface that will facilitate the specific actions supported by every enterprise, according to its special needs. Capriza makes it possible to implement the switch quickly and economically, while utilizing features of the existing system, without encoding or changes in the original systems. The system also enables employees to follow the changes within these systems (for example, revising a table of sales data), and to receive updates about these changes through push messages.”
The company’s four co-founders were former senior executives in Mercury Interactive, sold to HP in 2006 for $4.5 billion: VP R&D (and responsible for activity in Israel) Ronnen Armon, CEO Yuval Scarlat, Ariel, and Chairman Amnon Landan. As part of their work at Mercury, the four co-founders amassed experience and good reputations in the testing and monitoring of enterprise systems. In the wake of the massive use of smartphones and tablets, the co-founders realized that a major and practically inevitable change in the way enterprises could be expected to operate and work in the not-too-distant future had been set in motion.
Capriza employs a staff of 100 employees: 40 in Israel and the rest in company headquarters in Palo Alto, California and in London. The startup’s business model is based on the sale of the solution as a service, with the price determined by the number of people in the enterprise using the solution. Capriza has raised $73 million since launching in 2011. The capital raised helps the company focus on business development, marketing, sales, more extensive support in receiving customers, and developing capabilities and new products.