Rally Software

About Rally Software

Rally Software, originally founded as F4 Technologies in 2001 by Ryan Martens, established itself as a foundational provider of cloud-based solutions for managing agile software development. Martens, who later served as CTO, conceived the idea after experiencing the frustrations of using disconnected tools like Word, Excel, and Project to manage development teams at BEA Systems. He envisioned a unified, web-based platform to streamline the entire software development process. Soon after its inception, Martens partnered with Tim Miller, who became the CEO, to lead the company's growth. Both Martens and Miller had previously worked together at Avitek and held leadership roles at BEA Systems, bringing a depth of experience in high-growth software environments.

The company's core offering was an enterprise-class SaaS platform that provided a central hub for organizations to plan, prioritize, track, and collaborate on software development projects. This platform was designed to align software development work directly with strategic business objectives, serving a client base that included over 35 of the Fortune 100 companies across more than 135 countries. The business model combined subscription-based access to its software with consulting and training services, including courses from its Agile University, to help organizations transition to and scale Agile and Lean methodologies. Key features of the software included portfolio and backlog management, release and iteration planning, capacity planning, real-time analytics, and customizable dashboards, all intended to provide transparency and improve predictability in delivering value to customers.

Rally's trajectory included several significant milestones. After raising approximately $69.6 million in venture funding over seven rounds, the company went public in April 2013, trading on the NYSE under the symbol "RALY". The IPO raised $84 million, with shares priced at $14.00. A strong commitment to social responsibility was also a key part of Rally's identity; it became a certified B Corporation in 2010, recognized for its positive impact on its workforce and community. In May 2015, CA Technologies announced its acquisition of Rally Software for approximately $480 million, integrating Rally's agile development platform into its DevOps and Management Cloud portfolio. The journey concluded when Broadcom acquired CA Technologies in 2018, absorbing Rally's pioneering agile management solutions into its broader infrastructure software offerings.