Digital Fuel is a provider of IT Financial Management SaaS software for planning, billing. The company's headquarters is in San Mateo, California

San Mateo, California

San Mateo is a city in San Mateo County, California, United States, in the San Francisco Bay Area. With a population of approximately 100,000 , it is one of the larger suburbs on the San Francisco Peninsula, located between Burlingame to the north, Foster City to the east, Belmont to the south,...

 and it's development labs are located in Jerusalem's Har Hotzvim

Har Hotzvim

Har Hotzvim , also Campus of Science-Rich Industries is a high-tech industrial park located in northwest Jerusalem, Israel. It is the city's main zone for science-based and technology industries, among them Intel, Teva, Amdocs, NDS, Ophir Optronics, Sandvine, Radware and IDT Global Israel...

 technology park.

History

Digital Fuel was co-founded in the year 2000 by Benny Lehmann, who died in 2004, Israel Dancziger, Gilad Raz and Yakov Kogan who served as the company's CEO, CTO, and vice president of engineering, respectively. Digital Fuel's ServiceFlow software was originally sold to corporate IT teams and to service providers to help them manage service level agreements (SLAs) for outsourcing

Outsourcing

Outsourcing is the process of contracting a business function to someone else.-Overview:The term outsourcing is used inconsistently but usually involves the contracting out of a business function - commonly one previously performed in-house - to an external provider...

 agreements.

In 2008 Digital Fuel expanded its product

Product

- Business :*Product , an item that ideally satisfies a market's want or need**Product , a deliverable or set of deliverables that contribute to a business solution**Nanoproduct, a product that has been enhanced with nanotechnology...

 line to include IT Financial Management tools, to help corporate IT manage the business

Business

A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...

 value and cost of IT and gain better insight into IT costs.

Digital Fuel has raised over $30M in funding from investors including Apax Partners

Apax Partners

Apax Partners LLP is a global private equity and venture capital firm, headquartered in London. The company also operates out of eight other offices in New York, Hong Kong, Mumbai, Tel-Aviv, Madrid, Stockholm, Milan and Munich. The firm, including its various predecessors, have raised...

, Benchmark Capital

Benchmark Capital

Benchmark Capital is a venture capital firm responsible for the early stage funding of some very successful startups. In 1997, the firm invested $6.7 million in eBay, which became worth more than $5 billion by the spring of 1999. Other high-profile investments include Ariba, Juniper Networks, Red...

, Israel

Israel

The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...

 Seed Partners, and Sigma Partners.

In June 2011, VMware

VMware

VMware, Inc. is a company providing virtualization software founded in 1998 and based in Palo Alto, California, USA. The company was acquired by EMC Corporation in 2004, and operates as a separate software subsidiary ....

purchased Digital Fuel for $85 million.