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LinuxPR: Collab.net Completes $35 Million Funding Round

Jun 05, 2000, 16:27 (0 Talkback[s])

"Collab.Net - a leading provider of collaborative software development services based on open source principles - today announced the close of a $35 million dollar round of private financing. Venture capital firm Bowman Capital led Collab.Net's Series B financing round."

"The Company also received strategic investments from major hardware, software and services companies, including: Dell Ventures, Hewlett-Packard (NYSE: HWP), Intel Capital, Niku Corporation (Nasdaq: NIKU), Novell, Inc. (Nasdaq: NOVL), Opus360 (Nasdaq: OPUS), Oracle Corporation (Nasdaq: ORCL), Sun Microsystems Inc. (Nasdaq: SUNW), and TurboLinux, Inc. Initial investor, Benchmark Capital, also participated in this financing round. In addition, WR Hambrecht + Co. as well as Marc Andreessen, a member of Collab.Net's board of directors, are investing in the company."

"Open source software development practices are gaining acceptance and will influence the way companies bring software products to market. Having some of the leading companies in the world as Collab.Net's investors helps show there is growing acceptance," said Bill Claybrook, Research Director, Linux and Unix Platforms for Aberdeen Group."

Press Release