Bowstreet Secures $7.5 Million; Launches Enterprise Portal Solutions

Nov 16, 2004


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Bowstreet, a provider of application development tools for portals, has announced the completion of a $7.5 million round of financing and has introduced the Bowstreet Enterprise Portal Solutions.

Bowstreet has secured $7.5 million in financing from new lead investor IDG Ventures, and existing investors, including Charles River Ventures, Matrix Partners, Kleiner Perkins Caufield & Byers, Azure Capital Partners, and others. Bowstreet restarted in early 2003 with the release of Bowstreet Portlet Factory for WebSphere. This marked a new strategic direction for the company in its transition from offering a portal framework to delivering portlet development tools designed to build dynamic, composite applications on industry-standard platforms.

Bowstreet has also introduced the Bowstreet Enterprise Portal Solutions, a set of adaptive, portal-based composite applications for improving employee, partner, and customer productivity. The first suite of the Enterprise Portal Solutions, the Workforce Management Suite, includes employee self-service (ESS) and manager self-service (MSS) applications for IBM WebSphere Portal and Workplace. Bowstreet Enterprise Solutions come with pre-packaged portlets, browser-based configuration tools, and Bowstreet's Portlet Factory technology. The Workforce Management Suite is designed to improve employee productivity and reduce overhead costs by automating a range of people and paper-intensive HR activities, such as updating personnel records, requesting vacation time, and reviewing a job applicant's status. The first release of the Workforce Management Suite will be available in mid-December.
(www.bowstreet.com; www.idgventures.com)