# Everest Software

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/everest-software

- Industry: Software
- Headquarters: Austin, US
- Website: www.everestsoftwareinc.com
- Total disclosed funding: $19M
- Latest round: Series D (Jan 13, 2006)
- Investors on record: 4

## About

Everest Software, Inc. develops and offers an advanced ERP business management solution, integrating diverse business functions to enhance operational efficiency for organizations across various sectors.Everest Software, Inc. is a software company based in Austin, US, specializing in ERP solutions. Founded by Abid Abedi, Aditi Jain, Darrell Bechtel, Islam Gaber, Marko Nõu, and Pratham Katariya, the company has undergone strategic enhancements over the years. The latest funding round was a Series D, where the company raised USD 8.00 mn from Boulder Ventures, Sierra Ventures, and Updata Partners, bringing the total amount raised to USD 8.00 mn with a current company valuation of USD 26.855 mn. In August 2009, Versata Enterprises, Inc. acquired Everest Software, Inc.Everest's primary product offering is a comprehensive ERP business management solution designed to integrate and automate various routine business functions across multiple departments. Key capabilities include accounting, inventory control, service management, eCommerce, sales force automation, CRM, and point-of-sale operations in real-time. A notable feature, Everest CoPilot, is an AI-driven personal assistant that simplifies report generation through natural language inquiries. The solution primarily targets businesses in retail, wholesale, distribution, eCommerce, mail order, and service sectors, serving both large enterprises and smaller operations across North America, Europe, and parts of Asia.Everest Software, Inc. generates revenue through a subscription-based model associated with its ERP product suite. Clients typically engage in annual agreements that grant access to various software features and support services. The transaction structure is primarily business-to-business (B2B), with companies subscribing to the ERP system for enhanced operational capabilities. The IgniteTech Customer Support Program offers service tiers—Platinum, Gold, and Standard—each catering to different client needs, allowing for strong client relationships and maximizing technology investments.Future growth strategies for Everest Software, Inc. focus on the development of new products and enhancements to existing solutions. The company aims to expand into new geographical markets, specifically targeting regions in Asia by the end of 2010. The funds from the most recent Series D round will be utilized to facilitate these initiatives and further refine product offerings, ensuring they meet the evolving needs of their clients.

## Funding rounds

- Series D, Jan 13, 2006, $8M — Sierra Ventures, Boulder Ventures, Updata Partners
- Series C, Nov 3, 2003, $8M — Sierra Ventures, Updata Partners, New Vantage Group
- Series B, Jun 24, 2002, $3M — Updata Partners

## Investors

- Updata Partners (https://capitalatlas.ai/funds/updata-partners) — Series B, Series C, Series D
- Sierra Ventures (https://capitalatlas.ai/funds/sierra-ventures) — Series C, Series D
- New Vantage Group — Series C
- Boulder Ventures (https://capitalatlas.ai/funds/boulder-ventures) — Series D