SOURCE: PrecisionPoint Software

December 20, 2006 19:43 ET

PrecisionPoint Software Raises First Institutional Funding Round From Herald Ventures

Leading UK Venture Capital Fund, Herald Ventures II, Invests £1 Million ($1.95 Million) in PrecisionPoint Software as Microsoft® Dynamics™ Business Intelligence Market Gains Momentum

LONDON and WALTHAM, MA -- (MARKET WIRE) -- December 20, 2006 -- PrecisionPoint Software, the company that brings sophisticated business intelligence (BI) to Microsoft® Dynamics™ NAV, AX, and GP ERP application products, today announced that it has received its first institutional round of venture funding of £1 million (US $1.95 million) from the Herald Ventures II fund managed by London-based Herald Investment Management.

"PrecisionPoint Software really stood out as an investment proposition from the strength and consistency of its customer references -- testimony to the underlying technology and the design of the product. Our investment will enable PrecisionPoint to take this to market," said Herald founder Katie Potts.

The funding has enabled PrecisionPoint Software to strengthen its management team and invest in marketing programs and to engage more channel partners around the globe. Partners include Microsoft Dynamics resellers, BI Consultants as well as BI tool vendors seeking a data warehouse platform to deliver a complete solution for the enormous Microsoft Dynamics market.

"The Herald investment has boosted our ability to make our presence felt in important markets like the US where we are building a healthy customer base with brand names like Twinings and Steinway & Sons and in Europe with customers like Ryvita and TomTom," adds PrecisionPoint Software founder and CEO Dr. Nigel Geary.

PrecisionPoint Software has recently launched PrecisionPoint Business Warehouse version 3.0, an enterprise-caliber platform for interactive reporting and analysis that extends data access and reporting functionality by providing full compatibility with Microsoft® SQL Server 2005™, ProClarity™, Microsoft® Office 2007™, Reporting Services, and SharePoint Services.

"Anyone who has Dynamics NAV should also be using the PrecisionPoint Business Warehouse."

Kevin Joy, Financial Controller, Ryvita - PrecisionPoint customer.


PrecisionPoint Software Limited (formerly AnalySoft Development Ltd) is the company that brings sophisticated business intelligence (BI) to Microsoft® Dynamics™ customers.

PrecisionPoint Business Warehouse is a trusted and reconciled data warehouse for Microsoft® Dynamics™ applications including Dynamics AX, Dynamics NAV and Dynamics GP (formerly Axapta, Navision and Great Plains). PrecisionPoint BW is high on business content including finance, sales, supply chain as well as operations information, and can be installed in as little as a day. There are hundreds of satisfied end-users in production with PrecisionPoint solutions at companies including Boehringer-Ingelheim, Ryvita, Rotary Watches, Sega Europe, Steinway & Sons, TomTom International, Habitat for Humanity, Harrods Aviation and Twinings.

PrecisionPoint Software is headquartered in Bracknell, UK with a US HQ in Waltham, Massachusetts and sales and support offices in New Jersey, California, Texas and Johannesburg, South Africa.

For product and partner contact information visit or email

About Herald Ventures II

Herald Ventures II is a venture capital fund, managed by Herald Investment Management Limited, focused primarily on investing in early stage unquoted companies in the information technology, media and communications sectors in the UK.

Herald Investment Management Limited was established in 1994 by Katie Potts and is one of the UK's leading specialist technology and media investors with approximately £450 million ($900 million) of assets under management. Herald Ventures I was raised in 1999 with commitments of £20 million, and as of 2004 was fully invested across 20 companies. This was followed by Herald Ventures II in early 2005 with over £30 million of commitments, and which is currently partially invested.

Contact Information

  • For more information (PrecisionPoint Software) contact:
    Dyke Hensen
    Email Contact

    PR contact:
    Hannah McCree
    +44(0)7748 771 746
    Email Contact

    For further information (Herald Ventures II), please contact:
    Katie Potts, Tom Hayward or Taymour Ezzat
    +44(0)20 7553 6300