Cloud pioneer OpSource gets $10M in Series “E” funding
By Tarry Singh at 17 February, 2009, 12:51 pm
OpSource, the leader in Web operations, today announced that it has received $10 million in series “E” investment capital from Nippon Telegraph and Telephone Corporation (NYSE: NTT), with whom the company entered a strategic partnership in November 2008 (http://www.opsource.net/news/press/read_news.php?action=seenews&news_type=5&newsid=78), as well as from returning investors.
“OpSource is a proven leader in the SaaS space, and is continuing to flourish and innovate in this challenging economic environment, as evidenced by their EBIDTA-positive status as of December 2008,” said Gary Hromadko, Venture Partner, Crosslink Capital, a returning investor. “As the demand for SaaS and Cloud solutions continues to grow, OpSource is in a unique position to lead this marketplace while accelerating its own growth. We are pleased to back such a vibrant company.”
OpSource, which is six years old, has also garnered the additional financial support of other existing venture partners, including Velocity Venture Capital, Key Venture Partners and Artiman Ventures. The company will use the funds to further develop its existing Software-as-a-Service (SaaS) offerings as well as to pursue other key initiatives in the Cloud computing space.
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