SEQUOIA CAPITAL V ET AL
SC 13G/A, 1997-02-13
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                                  SCHEDULE 13G

             INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (Amendment No. 1)*

                           Arbor Software Corporation
                           --------------------------
                                (Name of Issuer)

                                     Common
                                     ------
                         (Title of Class of Securities)

                                    038918108
                                    ---------
                                 (CUSIP Number)



*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the Notes)

                               Page 1 of 10 Pages

<PAGE>
<TABLE>
<CAPTION>
<S>                                                                  <C>                  <C>

- -----------------------------------------------------                                     -----------------------------------------
CUSIP No. 038918108                                                  13G                                Page 2 of 10 Pages
- -----------------------------------------------------                                     -----------------------------------------

- ------------- ---------------------------------------------------------------------------------------------------------------------
     1        NAME OF REPORTING PERSONS
              S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

              SEQUOIA CAPITAL V  94-309 5978
- ------------- ---------------------------------------------------------------------------------------------------------------------
     2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                               (a)     o
                                                                                              (b)     x
- ------------- ---------------------------------------------------------------------------------------------------------------------
     3        SEC USE ONLY


- ------------- ---------------------------------------------------------------------------------------------------------------------
     4        CITIZENSHIP OR PLACE OF ORGANIZATION

              California
- ---------------------------- ------- ----------------------------------------------------------------------------------------------
     NUMBER OF SHARES          5     SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH           Originally filed 2/95               Amendment 2/96
   REPORTING PERSON WITH                              -0-                                       -0-
                             ------- ----------------------------------------------------------------------------------------------
                               6     SHARED VOTING POWER
                                     Originally filed 2/95               Amendment 2/96
                                           1,926,617                                            0
                             ------- ----------------------------------------------------------------------------------------------
                               7     SOLE DISPOSITIVE POWER
                                     Originally filed 2/95               Amendment 2/96
                                                      -0-                                           -0-
                             ------- ----------------------------------------------------------------------------------------------
                               8     SHARED DISPOSITIVE POWER
                                     Originally filed 2/95               Amendment 2/96
                                     1,926,617                                            0
- ---------------------------- ------- ----------------------------------------------------------------------------------------------
     9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              Originally filed 2/95               Amendment 2/96
              1,926,617                                           -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*


- ------------- ---------------------------------------------------------------------------------------------------------------------
     11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
              Originally filed 2/95               Amendment 2/96
              17.8%                                                      -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     12       TYPE OF REPORTING PERSON*

              PN
- ------------- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
                               Page 2 of 10 Pages
<PAGE>
<TABLE>
<CAPTION>
<S>                                                                  <C>                  <C>

- -----------------------------------------------------                                     -----------------------------------------
CUSIP No. 038918108                                                  13G                                Page 3 of 10 Pages
- -----------------------------------------------------                                     -----------------------------------------

- ------------- ---------------------------------------------------------------------------------------------------------------------
     1        NAME OF REPORTING PERSONS
              S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

              SEQUOIA PARTNERS (FR)   94-3096657
- ------------- ---------------------------------------------------------------------------------------------------------------------
     2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                               (a)     o
                                                                                              (b)     x
- ------------- ---------------------------------------------------------------------------------------------------------------------
     3        SEC USE ONLY


- ------------- ---------------------------------------------------------------------------------------------------------------------
     4        CITIZENSHIP OR PLACE OF ORGANIZATION

              California
- ------------------------------- ----------- ----- ---------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY                5    SOLE VOTING POWER
   OWNED BY EACH REPORTING                        Originally filed 2/95               Amendment 2/96
         PERSON WITH                                             -0-                                       -0-
                                            ----- ---------------------------------------------------------------------------------
                                             6    SHARED VOTING POWER
                                                  Originally filed 2/95               Amendment 2/96
                                                        1,926,617                                            0
                                            ----- ---------------------------------------------------------------------------------
                                             7    SOLE DISPOSITIVE POWER
                                                  Originally filed 2/95               Amendment 2/96
                                                                   -0-                                           -0-
                                            ----- ---------------------------------------------------------------------------------
                                             8    SHARED DISPOSITIVE POWER
                                                  Originally filed 2/95               Amendment 2/96
                                                  1,926,617                                            0
- ------------------------------- ----------- ----- ---------------------------------------------------------------------------------
     9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              Originally filed 2/95               Amendment 2/96
              1,926,617                                           -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*


- ------------- ---------------------------------------------------------------------------------------------------------------------
     11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
              Originally filed 2/95               Amendment 2/96
              17.8%                                                      -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     12       TYPE OF REPORTING PERSON*

              PN
- ------------- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
                               Page 3 of 10 Pages
<PAGE>
<TABLE>
<CAPTION>
<S>                                                                  <C>                  <C>

- -----------------------------------------------------                                     -----------------------------------------
CUSIP No.038918108                                                   13G                                Page 4 of 10 Pages
- -----------------------------------------------------                                     -----------------------------------------

- ------------- ---------------------------------------------------------------------------------------------------------------------
     1        NAME OF REPORTING PERSONS
              S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

              SEQUOIA TECHNOLOGY PARTNERS V  94-3095977
- ------------- ---------------------------------------------------------------------------------------------------------------------
     2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                               (a)     o
                                                                                              (b)     x
- ------------- ---------------------------------------------------------------------------------------------------------------------
     3        SEC USE ONLY


- ------------- ---------------------------------------------------------------------------------------------------------------------
     4        CITIZENSHIP OR PLACE OF ORGANIZATION

              California
- ---------------------------- ------- ----------------------------------------------------------------------------------------------
     NUMBER OF SHARES          5     SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH           Originally filed 2/95                Amendment 2/96
   REPORTING PERSON WITH                        -0-                                              -0-
                             ------- ----------------------------------------------------------------------------------------------
                               6     SHARED VOTING POWER
                                     Originally filed 2/95                 Amendment 2/96
                                           119,750                                        -0-
                             ------- ----------------------------------------------------------------------------------------------
                               7     SOLE DISPOSITIVE POWER
                                     Originally filed 2/95                 Amendment 2/96
                                                -0-                                             -0-
                             ------- ----------------------------------------------------------------------------------------------
                               8     SHARED DISPOSITIVE POWER
                                     Originally filed 2/95                 Amendment 2/96
                                          119,750                                          -0-
- ---------------------------- ------- ----------------------------------------------------------------------------------------------
     9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              Originally filed 2/95                 Amendment 2/96
                    119,750                                             -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*


- ------------- ---------------------------------------------------------------------------------------------------------------------
     11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
              Originally filed 2/95                 Amendment 2/96
                        1%                                                 -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     12       TYPE OF REPORTING PERSON*

              PN
- ------------- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
                               Page 4 of 10 Pages
<PAGE>
<TABLE>
<CAPTION>
<S>                                                                  <C>                  <C>

- -----------------------------------------------------                                     -----------------------------------------
CUSIP No. 038918108                                                  13G                                Page 5 of 10 Pages
- -----------------------------------------------------                                     -----------------------------------------

- ------------- ---------------------------------------------------------------------------------------------------------------------
     1        NAME OF REPORTING PERSONS
              S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

              SEQUOIA XXI  95-4286976
- ------------- ---------------------------------------------------------------------------------------------------------------------
     2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                               (a)     o
                                                                                              (b)     x
- ------------- ---------------------------------------------------------------------------------------------------------------------
     3        SEC USE ONLY


- ------------- ---------------------------------------------------------------------------------------------------------------------
     4        CITIZENSHIP OR PLACE OF ORGANIZATION

              California
- ---------------------------- ----------- ----- ------------------------------------------------------------------------------------
     NUMBER OF SHARES                     5    SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH                     Originally filed 2/95                Amendment 2/96
   REPORTING PERSON WITH                                  -0-                                              -0-
                                         ----- ------------------------------------------------------------------------------------
                                          6    SHARED VOTING POWER
                                               Originally filed 2/95                 Amendment 2/96
                                                     74,400                                        -0-
                                         ----- ------------------------------------------------------------------------------------
                                          7    SOLE DISPOSITIVE POWER
                                               Originally filed 2/95                 Amendment 2/96
                                                          -0-                                             -0-
                                         ----- ------------------------------------------------------------------------------------
                                          8    SHARED DISPOSITIVE POWER
                                               Originally filed 2/95                 Amendment 2/96
                                                    74,400                                          -0-
- ---------------------------- ----------- ----- ------------------------------------------------------------------------------------
     9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              Originally filed 2/95                 Amendment 2/96
                    74,400                                             -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*


- ------------- ---------------------------------------------------------------------------------------------------------------------
     11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
              Originally filed 2/95                 Amendment 2/96
                        Less than 1%                             -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     12       TYPE OF REPORTING PERSON*

              PN
- ------------- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
                               Page 5 of 10 Pages
<PAGE>
<TABLE>
<CAPTION>
<S>                                                                  <C>                  <C>

- -----------------------------------------------------                                     -----------------------------------------
CUSIP No. -38918108                                                  13G                                Page 6 of 10 Pages
- -----------------------------------------------------                                     -----------------------------------------

- ------------- ---------------------------------------------------------------------------------------------------------------------
     1        NAME OF REPORTING PERSONS
              S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

              SEQUOIA XXIII   95-4400009
- ------------- ---------------------------------------------------------------------------------------------------------------------
     2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                               (a)     o
                                                                                              (b)     x
- ------------- ---------------------------------------------------------------------------------------------------------------------
     3        SEC USE ONLY


- ------------- ---------------------------------------------------------------------------------------------------------------------
     4        CITIZENSHIP OR PLACE OF ORGANIZATION

              California
- ---------------------------- ----------- ----- ------------------------------------------------------------------------------------
     NUMBER OF SHARES                     5    SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH                     Originally filed 2/95                Amendment 2/96
   REPORTING PERSON WITH                                  -0-                                              -0-
                                         ----- ------------------------------------------------------------------------------------
                                          6    SHARED VOTING POWER
                                               Originally filed 2/95                 Amendment 2/96
                                                     10,864                                        -0-
                                         ----- ------------------------------------------------------------------------------------
                                          7    SOLE DISPOSITIVE POWER
                                               Originally filed 2/95                 Amendment 2/96
                                                          -0-                                             -0-
                                         ----- ------------------------------------------------------------------------------------
                                          8    SHARED DISPOSITIVE POWER
                                               Originally filed 2/95                 Amendment 2/96
                                                    10,864                                          -0-
- ---------------------------- ----------- ----- ------------------------------------------------------------------------------------
     9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              Originally filed 2/95                 Amendment 2/96
                   10,864                                             -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*


- ------------- ---------------------------------------------------------------------------------------------------------------------
     11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
              Originally filed 2/95                 Amendment 2/96
                        Less than 1%                             -0-
- ------------- ---------------------------------------------------------------------------------------------------------------------
     12       TYPE OF REPORTING PERSON*

              PN
- ------------- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
                               Page 6 of 10 Pages
<PAGE>


Item 1.

       (a)        Name of Issuer:           Arbor Software Corporation
                                                     .
       (b)        Address of Issuer's Principal Executive Offices:
                                                    1325 Chesapeake Terrace
                                                    Sunnyvale, CA 94089
Item 2.

       (a)        Name of Persons Filing:   Sequoia Capital V ("SC V")
                        Sequoia Partners (FR) ("SP(FR)")
                                                     Sequoia Technology 
                                                       Partners V
                                                     Sequoia XXI
                                                     Sequoia XXIII


       SP(FR) is the General Partner of SC V.

       (b)        Address of Principal Business Office or, if None, Residence:
                                                     3000 Sand Hill Road
                                                     Building 4, Suite 280
                                                     Menlo Park, CA  94025

       (c)        Citizenship:
                                            SC V, SP(FR),  STP V, Sequoia  XXII,
                                            Sequoia XXIII: California


       (d)        Title of Class of Securities:
                                                     Common Stock

       (e)        CUSIP Number:                      038918108


Item 3. If this statement is filed pursuant to Rules 13d-1(b),or 13d-2(b), check
        whether the person filing is a:

Not applicable

Item 4.  Ownership

See Rows 5 through 11 of cover pages

Item 5.  Ownership of Five Percent or Less of a Class

       If this  statement  is being filed to report the fact that as of the date
hereof the reporting  person has ceased to be the beneficial  owner of more than
five percent of the class of securities, check the following X.

         Instruction. Dissolution of a group requires a response to this item.


Item 6.  Ownership of More than Five Percent on Behalf of Another Person

Not applicable

                               Page 7 of 10 Pages
<PAGE>

Item 7.  Identification and Classification of the  Subsidiary Which Acquired the
         Security Being Reported on by the Parent Holding Company

Not applicable

Item 8.  Identification and Classification of Members of the Group

Not applicable

Item 9.  Notice of Dissolution of Group

Not applicable

Item 10. Certification

         [The  following  certification  shall be included if the  statement  is
filed pursuant to Rule 13d-1(b):]

         By  signing  below I  certify  that,  to the best of my  knowledge  and
belief, the securities referred to above were acquired in the ordinary course of
business  and were not acquired for the purpose of and do not have the effect of
changing or  influencing  the control of the issuer of such  securities and were
not acquired in connection  with or as a participant in any  transaction  having
such purpose or effect.]


[EXHIBITS]

[A:    Joint Filing Statement]

                               Page 8 of 10 Pages

<PAGE>


                                    SIGNATURE

       After  reasonable  inquiry and to the best of my knowledge and belief,  I
certify that the information  set forth in this statement is true,  complete and
correct.

Date:  February  4, 1997

SEQUOIA CAPITAL V
By its General Partner,
Sequoia Partners (FR)

- --------------------------------
Pierre Lamond, General Partner


- --------------------------------
Donald T. Valentine, General Partner


- --------------------------------
Thomas F. Stephenson, General Partner


- --------------------------------
Gordon Russell, General Partner


- --------------------------------
Michael Moritz, General Partner


                               Page 9 of 10 Pages

<PAGE>

                                    EXHIBIT A

                             JOINT FILING STATEMENT

       Pursuant to Rule  13d-1(f)(1),  we, the  undersigned,  hereby express our
agreement that the attached Schedule 13G is filed on behalf of each of us.

Date:             , 1997

SEQUOIA CAPITAL V                         SEQUOIA TECHNOLOGY PARTNERS V
By its General Partner,
Sequoia Partners (FR)

- --------------------------------          --------------------------------
Pierre Lamond, General Partner            Pierre Lamond, General Partner


- --------------------------------
Pierre Lamond


- --------------------------------
Donald T. Valentine


- --------------------------------
Thomas F. Stephenson


- --------------------------------
Gordon Russell


- --------------------------------
Michael Moritz


                               Page 10 of 10 Pages




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