Since one of our VC firms just blogged about it, I might as well pile on with a repost:
Given all this [need for companies to demonstrate immediate ROI from the products they sell], it’s not surprising that Madrona and Skytap’s other major investors, Ignition Partners and WRF, closed a new $7 million Series B investment in the company last week. Skytap is selling successfully in this down economy with a strong cost-savings value proposition. They are a leading player in a large, high potential space, have a compelling and differentiated product, and a great team that is executing on their vision. It’s this type of company that will thrive in this down market and precisely the type of company in which Madrona will continue to invest.