Exist Global Announces Venture Funding to Fuel Global Expansion

Exist Global Announces Venture Funding to Fuel Global Expansion

Exist Global Announces Venture Funding to Fuel Global Expansion 150 150 Exist Software Labs Inc.

Appoints former Sun exec as CEO; Adds US-based operations and senior management team Marina del Rey, CA

February 26, 2007 – Exist Global, Inc., Asia’s leading provider for software engineering services, today announced that it has secured venture financing to accelerate its growth plans. Exist Global has been operating profitably for five years and has been recognized for its unique software delivery process patterned after Open Source development. Receiving the Red Herring 100 Asia and ZDnet Asia Top 10 TechnoVisionaries awards in 2006, Exist Global has successfully delivered strategic development capabilities to enterprises, independent software vendors and Web 2.0 start-ups. The company’s global expansion plans include the addition of new executive officers, a significant increase in the company’s Philippines-based workforce, and intensified sales and marketing efforts in the U.S. and Europe.
In January, Exist Global added a slate of industry veterans to lead its expansion efforts, including Steve Nathan, as president and CEO, Charles Ames as vice president of business development and Nicholas Hughes as corporate controller. “Steve is a proven leader with a great track record of inspiring and scaling technical organizations to deliver world class services and products. He and the rest of our new executive team will drive Exist Global’s vision for global software development optimization,” said Winston Damarillo, founder and chairman of Exist Global.
Drawing from its success and experience in Open Source software development, Exist Global has developed a hosted operating infrastructure called Distributed Engineering Network (DEN). This enables Exist Global to deliver the benefits of Open Source style development to distributed engineering projects building proprietary and web delivered applications in addition to open source software.
Using technology and processes derived from Open Source can vastly reduce the total cost and time required to develop and deploy products and solutions,” said Nathan. “Exist Global has proven that these powerful tools and techniques can be leveraged for software development in any context.”
Exist Global service offerings include architecture and design consulting, software product development, independent quality assurance, application maintenance, and technical support.
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