“The Linux operating system has been at the epicenter of vast
paper fortunes made on the stock market during the past several
months, so it’s no wonder that all eyes are turned to the next crop
of Linux-oriented companies that could go public in the near
future.”
“Among that group of up-and-comers is Linuxcare, a company that
specializes in enterprise-scale services for Linux users. It
already has attracted the attentions of many deep-pocketed
investors who are ready to jump on the bandwagon early, especially
considering the blockbuster debut of VA Linux Systems (LNUX) last
week. Linuxcare will announce Tuesday that it has completed a $32.5
million second round of funding, led by Patricof & Co.
Ventures….”
“But it’s the funding that will likely draw the most attention,
since it further advances the company toward a state of IPO
readiness. While the amount of funding the company has raised
so far–about $38.5 million in the first two rounds–is considered
by industry analysts to be substantial for a Linux company, that
doesn’t mean Linuxcare is ready to take the plunge into the public
pool. “We’re still building the company–it’s really only a
year old,” notes Tyde in response to a question about when the
company plans to go public.”