Jama Software Acquisition, Valuation, Funding & Investors

Jama Software was acquired by Francisco Partners for $1.2B in March 2024.

Jama Software acquisition price

$1.2B

Acquired by Francisco Partners · Mar 2024

Cumulative funding Jama Software raised

$233M

across 3 funding rounds

Key investors in Jama Software

  • Madrona
  • Trinity Ventures
  • Insight Partners
  • Oregon Venture Fund
  • Updata Partners

Jama Software Overview

About Jama Software

Jama Software is a Boulder-headquartered provider of Jama Connect, an enterprise platform for requirements management in complex product development. The tool supports full lifecycles from ideation to launch for aerospace, automotive, and medical device sectors, integrating operational and strategic workflows.


Founded

2007

HQ

United StatesPortland, OR

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.2B (acquired Mar 2024)

Jama Software Acquisition

Jama Software was acquired by Francisco Partners for $1.2B on 18 March 2024.

Before the acquisition Jama Software had raised $233M across 3 funding rounds.

Jama Software acquisition details
AcquirerDateTypePrice
  • Francisco Partners
18 Mar 2024PE buyout$1.2B

Jama Software Funding History

Jama Software has raised a total of $233M across 3 funding rounds.

Jama Software's first fundraising round was a $13M Series B in August 2013. The most recent completed round was a $200M undisclosed-stage round in June 2018.

Jama Software funding rounds

Jama Software funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2018Undisclosed stageInsight Partners (lead); Madrona$200MJama Software, founded in 2007 and based in Portland, Oregon, develops a product development platform used for building complex products and mission-critical systems, particularly in regulated industries combining hardware and software across engineering disciplines. Customers include NASA Kennedy Space Center, Eli Lilly, Canon, Caterpillar, SpaceX, Department of Defense, Wells Fargo, Qualcomm, Roche, and Jabra. The platform features tools like Jama Connect for requirements management, Live Traceability, Review Center, and Jama Analyze (from the acquisition of Notion). On June 26, 2018, Jama announced a $200 million growth equity investment led by Insight Venture Partners with participation from Madrona Venture Group, marking one of the largest VC deals in the Pacific Northwest. The funding aimed to accelerate global expansion, including its European headquarters in Amsterdam opened the prior year, speed up the product roadmap, enhance features, broaden partner alliances, and develop new products to address increasing product complexity, regulation, and cross-functional collaboration challenges. This was Jama's largest round to date, following over $30 million previously raised from Madrona, Trinity Ventures, and Updata Partners (who did not participate this time). The deal was described as the biggest venture financing in the region over five years and among the top 15 nationally for VC-backed companies transitioning to private equity-style growth rounds. Jama reported 80% annual growth in platform adoption during its record-breaking fiscal year ending around mid-2018, approaching 200 employees, but declined to disclose specific financial results, valuation, revenue, ARR, or EBITDA. The investment positioned Jama to capitalize on the growing market for predictive product development tools amid pressures to reduce time-to-market and improve quality. Later developments included sustained growth to $20M ARR by around 2023 under new CEO Marc Osofsky with 25-30% rates and profitability focus, culminating in a $1.2 billion acquisition by Francisco Partners.
Mar 2015Series CUpdata Partners (lead); Madrona; Trinity Ventures$20MJama Software, a Portland-based product development platform provider, raised $20 million in Series B funding in March 2015 led by Updata Partners, with participation from existing investors Trinity Ventures and Madrona Venture Group. The round brought total funding to $33 million for the eight-year-old company, which employed 140 people at the time, double the headcount from two years prior. The company's collaborative SaaS platform helped distributed development teams deliver projects efficiently with roughly 600 customers including NASA, Comcast, Caterpillar, Dolby, and Rockwell Collins. CEO Eric Winquist indicated the capital would accelerate customer acquisition and expand the platform beyond R&D and product teams to involve the broader organization in product development. Jama Software later achieved significant growth, closing a $200 million growth equity round led by Insight Venture Partners in 2021, followed by a $1.2 billion acquisition by Francisco Partners announced in March 2024, which built on an organic tripling of recurring revenue over five years.
Aug 2013Series BTrinity Ventures (lead); Oregon Venture Fund; Madrona$13MJama Software, a Portland-based provider of SaaS-based product management and delivery software, raised $13 million in its first institutional Series B funding round on August 19, 2013, led by Trinity Ventures with participation from Madrona Venture Group and Oregon Venture Fund. The funding supports expansion of its collaborative platform for distributed teams handling complex software, smart products, and IT systems, with plans to double engineering teams, enter Europe and Asia, deepen integrations, and hire up to 100 new employees. At the time, Jama had grown to 80 employees and over 600 customers, including Fortune 100 companies like Kaplan, Lockheed Martin, SpaceX, and Comcast. The company was on track to achieve $18 million in revenue in 2013, more than double the prior year's total, reflecting strong demand after six years of organic growth funded by customer revenue. Trinity Ventures' Karan Mehandru joined the board, targeting $100 million in future revenue and potential IPO. Jama competes with enterprise tools from IBM, HP, Microsoft, and Jive Software in the product delivery market, emphasizing requirements management, testing, and social collaboration for faster market delivery.

Who has invested in Jama Software?

5 investors have backed Jama Software across its funding rounds, including Madrona, Trinity Ventures, Insight Partners, Oregon Venture Fund and Updata Partners.

Lead investors include Insight Partners, Updata Partners and Trinity Ventures.


Jama Software Investors

Investors in Jama Software by funding rounds participated
InvestorHQRoundsRoleFirst check
MadronaUnited StatesSeattle, WA3ParticipantAug 2013
Trinity VenturesUnited StatesSan Francisco, CA2LeadAug 2013
Oregon Venture FundUnited StatesPortland, OR1ParticipantAug 2013

This data is available for Pro users. Sign up to see all 5 Jama Software investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Acquisitions by Jama Software

Jama Software has acquired 1 company to date.

Last acquisition by Jama Software was on January 16th 2018. Jama Software acquired Notion for undisclosed valuation.


Latest Acquisitions by Jama Software

Notion
Description
Notion is a business intelligence platform that centralizes team metrics with workflows, data visualization, activity feeds, and KPI libraries. It enables organizations to capture performance data and generate insights for data-driven decisions.
HQ CountryUnited States
HQ City
Portland, OR
Deal Date16 Jan 2018
Valuationundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all Jama Software acquisitions and their M&A valuation multiples.

Start Free Trial

Jama Software Competitors

Jama Software competitors include listed companies like Intapp and CS Disco, and private ones like CarDekho, Enter, Torq and Teamworks.

Public and private companies comparable to Jama Software
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CarDekhoIndiaGurgaonPrivate$299M-$1.2B4.0x
EnterBrazilSão PauloPrivate$10M-$1.2B120.0x
TorqIsraelTel AvivPrivate$24M-$1.2B-
TeamworksUnited StatesDurham, NCPrivate--$1.2B-
IntappUnited StatesUnited StatesPublicly listed$578M($16M)$2.8B4.5x
CS DiscoUnited StatesUnited StatesPublicly listed$157M($44M)$273M1.0x

Jama Software Public Comps

Jama Software is no longer listed, but its public comps include RWS Holdings, CS Disco, Hibino, Xp Industrial FII, GetBusy, Valtes Holdings, Dye & Durham, Intellinetics, Intapp and Topicus.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
RWS Holdings$927M($26M)0.7x0.7x(27.2x)4.8x
CS Disco$157M($44M)1.1x1.0x(4.0x)(22.1x)
Hibino$435M$60M0.6x0.6x4.3x-
Xp Industrial FII$9M-10.0x---
GetBusy$30M$2M2.1x2.0x35.2x32.5x
Valtes Holdings$77M$6M0.6x0.6x7.4x-
Dye & Durham$316M$116M3.0x3.3x8.2x7.1x
Intellinetics$17M($470K)1.4x1.4x(50.9x)-

This data is available for Pro users. Sign up to see all Jama Software competitors and their valuation data.

Start Free Trial

Common questions about Jama Software

When was Jama Software founded?Jama Software was founded in 2007.
Where is Jama Software headquartered?Jama Software is headquartered in Portland, OR, United States.
Is Jama Software publicly listed?No, Jama Software was acquired by Francisco Partners in March 2024.
Who acquired Jama Software?Jama Software was acquired by Francisco Partners in March 2024.
How much was Jama Software acquired for?Jama Software was acquired for $1.2B in March 2024.
How much funding has Jama Software raised?Jama Software has raised $233M across 3 funding rounds.
What was Jama Software's last funding round?Jama Software's last funding round was a $200M undisclosed-stage round in June 2018, led by Insight Partners.
Who are Jama Software's investors?Jama Software's investors include Madrona, Trinity Ventures, Oregon Venture Fund, Updata Partners and Insight Partners.
Which companies are comparable to Jama Software?Companies comparable to Jama Software include CarDekho, Enter, Torq, Teamworks, Intapp and CS Disco.
How many companies has Jama Software acquired?Jama Software has acquired 1 company, including Notion.

See companies similar to Jama Software

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial