Open source software projects are seeing some success on fundraising sites like Kickstarter and Indiegogo. But Warren Konkel believes open source software needs a better funding model that’s more aligned with how software is built. So Konkel, who was the first hire at LivingSocial, teamed up with his friend David Rappo, a producer for games like GuitarHero and Skylander, and founded Bountysource, a crowdfunding and bounty site specifically designed to help developers raise money for thier OSS projects, bug fixes and feature requests. In this interview, Konkel talks about how he recently snagged a $1.1 million investment in Bountysource and gives developers tips on launching a fundraising effort for thier OSS project.