internetnews.com: VCs Open Wallets for Open Source

“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…”

Complete
Story