Rally Software's CEO to Speak About Private Equity at the Software Business 2006 Conference

Tim Miller is a serial entrepreneur with over 14 years experience in managing, building and growing software companies from startup to Fortune 1000. He currently serves as CEO of Rally Software where he helps guide Rally’s software life cycle management tools and coaching services. Rally helps organizations shortening their development cycles and respond faster to changing customer needs through Agile development practices, one of the fastest growing trends in the technology industry. The company's customers include thousands of subscribers from leading software vendors, Internet companies and corporate development teams.

At the Software Business 2006 Conference, Rally’s Miller will participate in a panel discussion entitled, “Effectively Raising and Efficiently Spending Private Equity,” with the following session description. The software industry reaps the greatest annual share of venture capital investments year after year. Fast growth software start-ups are requiring more investment capital than ever to succeed. However, exit values have not increased accordingly. Furthermore, the more venture capital a company needs, the stronger negative effect it has on exit valuations. This lies in the face of conventional thinking that software CEOs should raise as much private equity as possible when it's offered because they might need it later. Instead, optimally raising capital then spending it efficiently will maximize exit values. Spending efficiency has a lot to do with timing. Building up a big infrastructure too early or investing in a technology concept before its time can become a big cash burden. Additionally, the public markets demands more mature companies today, so the venture capital raised needs to be focused on the long-run.

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