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Kenandy Accelerates Growth With New Funding and Momentum

REDWOOD CITY, CA--(Marketwired - Mar 17, 2016) - Kenandy, an enterprise resource planning (ERP) solution built natively on the Salesforce platform, recently raised a new round of venture funding, bringing the total funds raised to more than $55 million. The most recent funding included participation from Kleiner Perkins Caufield & Byers (KPCB), Lightspeed Venture Partners, Salesforce Ventures and Wilson Sonsini Ventures. Additionally, Kenandy founder Sandra Kurtzig was a significant participant in the round.

"Salesforce Ventures has invested in Kenandy and other strategic partners who empower businesses to focus on running their company rather than their software," said John Somorjai, EVP, Corporate Development and Salesforce Ventures, Salesforce. "Kenandy has developed an ERP that quickly adapts to business process changes enabling rapid innovation and implementation."

"Kenandy's momentum and performance in leading the native cloud ERP market as well as its proven executive team is why we have continued to invest in the company," says Ray Lane, KPCB Partner Emeritus and former Oracle president/COO who led KPCB's investment in Kenandy.

Chuck Berger, Kenandy CEO, announced the funding today in a blog post, along with the news of a new global sales team and executive hire, Marie Amoruso Jackson as chief marketing officer.

As CMO, Marie Amoruso Jackson is leading Kenandy's growth strategy. She is focused on increasing brand awareness in the mid-market sector and accelerating the company's lead generation engine. With more than 20 years of Silicon Valley leadership experience, Jackson has built global marketing organizations and successfully driven revenue growth at multiple companies.

Additionally, Rod Butters will take on the role of chief technology officer and president of products and services. Butters' product vision is built into the core of Kenandy's ERP solution and he has been a champion of creating an agile development environment at the company. This move to CTO positions him to execute on a robust product roadmap and continue to grow a bold engineering culture at Kenandy.

Kenandy momentum for 2016:

  • Over 60 percent growth in employees since June of 2015
  • 80 percent of Kenandy customers deploy additional seats because of realized ROI
  • 300 percent growth of the product codebase in 2015

"Our team has built an exceptional product and we're ready to take Kenandy to a new level of market leadership in 2016," says Berger. "Marie Jackson and our executives bring valuable experience in building out sales and marketing organizations, and I couldn't be more excited about having these remarkable leaders on our executive team. We are well positioned for strong growth this year as we execute on ambitious plans."

About Kenandy
Kenandy's ERP empowers business innovation. Built on the Salesforce platform, Kenandy has redefined enterprise resource planning by allowing companies to map their business processes and implement applications remarkably fast. With the automation of operational systems including global financials, procure-to-pay, planning and production, quote-to-cash and trade promotion management, Kenandy customers have the freedom to focus on driving innovation and growth. For more information, visit: www.kenandy.com and follow us @Kenandy.

About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build and accelerate growth at pioneering companies like Amazon, Google, Lending Club, Nest, Twitter, Uber, and Mandiant. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships, and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai, and Beijing. For more information, visit: https://www.kpcb.com and follow us @kpcb.

About Lightspeed Venture Partners
Lightspeed Venture Partners is an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. For over two decades, the Lightspeed partners have backed and helped build more than 250 companies globally, many of which have become market leaders. Lightspeed's strategy is to be the first or lead institutional investor in companies with high growth potential in markets capable of supporting the creation of large, valuable enterprises. The Firm currently manages over $4 billion of committed capital and is headquartered in Menlo Park with investment partners and advisors in India with Lightspeed India Partners and China with Lightspeed China Partners. Lightspeed partners have backed entrepreneurs that have pioneered and led new markets including, AppDynamics, DataStax, Fusion-io, Giphy, Grubhub, The Honest Company, MuleSoft, Nest, Nicira, Nimble Storage, Nutanix, Riverbed, Snapchat, SolarEdge, Stitch Fix, Tintri and XtremIO. More information can be found at http://www.LSVP.com

About Salesforce Ventures
Salesforce Ventures -- Salesforce's corporate investment group -- invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures.