Cordys' Baan raises $80M
Alarm:Clock mentions the huge Cordys funding.
Let me get this straight:
- Competing with IBM, MS, SAP, Oracle in BPM and SOA ?
- Funded by Argonaut, who mention two deals on their site, one in wrecking specialists and one disposal services ?
Some decent customer references, but a surprising funding event nonetheless. Wow.
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Fred,
I met the Cordys’ gang when I was still a VC and even made the pilgrimage to the Baan Castle in Putten where I admired Jan Baan’s Old Masters collection…
Anyway, although I don’t know Argonaut, I have to say this company is really doing something special. They may fail but they are one of the few technology providers out there with a viable alternative to SAP ERP systems.
Hm, JY, Cordys and Baan are different companies. Baan is indeed an alternative to SAP ERP.
Cordys however is not an alternative to SAP ERP Systems. It replaces (or complements) only a part of it: the part that coordinates and measures processes and external integration.
And Cordys, not Baan is the company that is involved in this investment.
And to react to Fred’s comment: currently there are quite a few BPM-S vendors (Appian, Lombardi, etc). It’s a complex market. And the big companies are behind (yes!) in technology in this area, in my opinion.
Chances are that one of the biggies is going to buy a smaller vendor…. See Tibco buying Staffware, BEA buying Fuego, Software AG, etc. etc.
Regards,
Roeland Loggen
Cordys seems an almost gloriously ambitious idea that belongs in another era. I just cannot see how it will penetrate large accounts as it would involve an enterprise ripping out its current middleware stack in order to take real advantage of Cordys. Maybe in the mid 1990s such brave ideas could have caught in, but I fear that large enterprises have become all too conservative these days for ambitious ideas like this to prosper. I hope I am wrong.
For a little more on this see:
http://andyonenterprisesoftware.com/?s=cordys