Related link: http://www.itgroundwork.com/news/pr_033005_GW85.html
As I head to the Open Source Business GroundWork Open Source Solutions, Inc., a leader in open source-based IT management solutions, announced it has secured $8.5 million in its second round of venture capital financing. The Series B financing, which was led by Mayfield, includes Series A lead investor Canaan Partners.
Once again we find yet another open source company with venture financing. According to a quick summary, Matt Asay suggests over $150 million has been invested in open source related companies since March 2004. I’ll agree with him, that is some serious coin. I don’t have the details, but that number seems plausible, if maybe a little high. In the end, the take away is open source is very important and is changing the information technology industry.
As the newest member of this prestigious group, Groundwork is looking to use the investment to to expand product and service offerings and build out its marketing and sales programs. Currently GroundWork offers an open source IT infrastructure monitoring solution that delivers enterprise-class availability and performance. GroundWork Monitor is their monitoring solution, and it is based on powerful open source software such as:
With what seems like a solid product and a nice base of 40 customers, I imagine that getting the word out will be task numero uno for GroundWork. “GroundWork has already demonstrated strong customer traction in the market, offering a very viable and compelling open source alternative to commercial IT management solutions,” said Robin Vasan, managing director of Mayfield. “As enterprises continue to embrace open source for more mission-critical applications, we believe GroundWork has the potential to capture a significant portion of the $7 billion worldwide IT management market,” he added.
Who will be next to get some help?