"Gluecode, a Los Angeles software firm delivering 'managed open source' products, landed $5 million in financing today from Rustic Canyon Partners and Palomar Ventures.
"The firm specializes in portal and server software based on open source Apache Jetspeed. Gluecode offers a free downloadable version of its software as well as two licensed offerings, one for businesses and another for original equipment manufacturers.
"While the products are based on open source code, the company adds proprietary code and updates for the licensed versions, an approach it calls 'managed open source.'
"'We bridge the gap between what open source provides for free and what customers require for it to be functionally competitive with closed source software,' Gluecode founder and CEO Winston Damarillo said..."
