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GroundWork Open Source Finishes Series D Financing Led By Canaan Partners

Posted on: Thu, 22 Oct 2009 00:47:00 EDT

Symbols: JFKOF

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Oct 22, 2009 (Close-Up Media via COMTEX) --
JFKOF | Quote | Chart | News | PowerRating -- GroundWork Open Source, a commercial open source systems and network management software company, announced it has secured $5 million in its fourth round of venture capital financing.

The series D financing, which was led by Canaan Partners, includes past investors Mayfield, JAFCO Ventures and SAP Ventures. The company said the latest investment will be used to help further execute on GWOS' vision of delivering a disruptive solution that eliminates IT administration isolation, providing a unified platform based on open source, open standards and a thriving community as viable resources.

"GWOS has matured greatly in the last five years, and has completed some substantial programs that are required to build an impressive business," said Deepak Kamra, general partner of Canaan Partners. "We look forward to GWOS' continued success and growth."

"We are pleased to provide our community with a powerful solution that matches their diverse data center management need," said Peter Jackson, CEO of GWOS. "Our team is committed to delivering the best solution to our users by leveraging the center point of open source - the transparent and accessible knowledge. Look for more great things from GWOS that will change how IT monitoring will be done."

More Information:

http://www.groundworkopensource.com

((Comments on this story may be sent to newsdesk@closeupmedia.com))

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