Lombardi Software, Inc.

Lombardi Software delivers innovative pricing solutions designed to optimize pricing efficiency for businesses, enabling rapid and accurate quoting processes across various sectors. Founded in 1999, Lombardi Software, Inc. is headquartered in Austin, US, and specializes in pricing solutions. The company was acquired by IBM Corporation in December 2009, with the financial terms undisclosed.

Lombardi has successfully engaged in 5 deals to date, with a total amount raised of USD 7. 95 mn, primarily through its Series D funding round led by Austin Ventures, InterWest Partners, and Palomar Ventures. Lombardi Software specializes in providing comprehensive pricing solutions aimed at streamlining the pricing process for businesses across various industries. Their core product offering includes a sophisticated pricing tool designed to deliver accurate quotes to clients within 24 business hours upon request.

This tool is particularly beneficial for companies that require timely and precise pricing to inform their decision-making processes. The software serves a diverse client base, including small to medium enterprises and larger corporations across North America and select international markets, helping them enhance operational efficiency and improve customer satisfaction. End users of the product typically include sales and finance teams that rely on rapid pricing to close deals and maintain competitive agility in their respective markets. The revenue model for Lombardi Software primarily revolves around transactional engagements with clients seeking pricing solutions.

The company operates on a direct-to-consumer basis, offering pricing tools that operate under a subscription model, ensuring ongoing revenue streams through renewals and updates. Clients typically engage with Lombardi Software by submitting pricing requests via an online form, and in response, they receive customized quotes that align with their specific needs. This structured approach allows for seamless integration with clients’ existing workflows. Following the acquisition by IBM Corporation, Lombardi Software focuses on enhancing its pricing solutions.

The company is exploring new product developments, although specific release dates and details have not been disclosed. Lombardi aims to expand its market presence beyond North America into European and Asian markets by the end of 2010, leveraging the new funding acquired to support these initiatives. The recent funding from the Series D round will be instrumental in facilitating this expansion and product enhancement.