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OpenLogic Meets Goals, Continues Strong Growth With Completion of $4.3 Million Round of Funding
(Broomfield CO) - September 27, 2006 -- OpenLogic, Inc., a leading provider of software, stacks and support that enable enterprises to easily deploy and manage customized open source environments, today announced it has completed a $4.3 million round of financing.
The new investment includes funding from UV Partners, Appian Ventures, Village Ventures, Highway 12 Ventures and Red Rock Ventures. In addition, several members of OpenLogic's executive team, excited about OpenLogic's accomplishments and prospects, have joined the round.
"OpenLogic has exceeded its goals and validated its enterprise strategy over the past 12 months," said Steven Grandchamp, CEO of OpenLogic. "We've launched our flagship enterprise product, launched a new federated enterprise-grade support model for over 160 open source products, and signed up large customers including Fujitsu SSL, GAI and one of the largest insurance companies in the world."
"We see a growing market opportunity to manage open source that OpenLogic is uniquely qualified to address," said Kip Myers, of Red Rock Ventures. "We're also very pleased to see OpenLogic executing on its enterprise strategy. OpenLogic is proving that with the right strategy and the right execution, there is a large opportunity to manage open source in the enterprise."
Among OpenLogic's accomplishments in the first nine months of 2006:
- OpenLogic has signed a number of new Global 2000 customers including GAI, Fujitsu SSL and one of the largest insurance companies in the world.
- OpenLogic released OpenLogic Enterprise 4.0, which introduced a distributed enterprise architecture to allow enterprises control over the use of open source across the enterprise. OpenLogic Enterprise 4.0 gives enterprises a central repository of approved, certified open source products within the corporate firewall; enables companies to automatically install, configure and integrate this software on remote servers and desktops (using existing software deployment tools if they choose); and provides an audit trail of open source software deployment.
- OpenLogic launched its Policy JumpStart Program, a package of services and software to help companies create, implement and enforce an effective open source policy. Several large organizations have signed up for or conducted the JumpStart program.
- OpenLogic pioneered the OpenLogic Expert Community, a federated support model that provides a single point of contact for enterprise open source issues by tapping committers and contributors for more than 160 open source products.
About OpenLogic
OpenLogic is a leading provider of software, stacks and support that enable enterprises to easily customize, deploy and manage commercial-grade open source environments. OpenLogic's software automates the integration and deployment of any combination of 160+ pre-certified open source packages along with proprietary or commercial solutions. The OpenLogic solution also mitigates open source legal risks by enabling companies to manage and enforce open source policies. OpenLogic's technical support and update services give enterprises the commercial-grade reliability they demand. OpenLogic is currently used by more than 700 customers worldwide. For more on OpenLogic, go to www.openlogic.com.
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