OpSource Closes $15m Financing

June 13, 2007 -- (WEB HOST INDUSTRY REVIEW) -- Software as a service delivery provider OpSource (opsource.net) announced on Tuesday it has closed a $15 million Series D financing round. The company also announced that Crosslink's Gary Hromadko has joined the board of directors.

OpSource will use these funds for ongoing business development and to accelerate the worldwide adoption of its Web application delivery platform, OpSource On-Demand. The platform enables companies to quickly and securely offer applications on-demand.
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The financing was led by Crosslink Capital including participation from Artiman Ventures. This latest financing brings total funds raised by OpSource to $47 million.
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"With this additional funding, OpSource is now in a position to meet increasing demand in Europe for delivering on-demand applications," says Treb Ryan, OpSource CEO. "We can also speed the time to market for new services and on-demand applications that will grow the SaaS ecosystem. These activities continue OpSource's legacy as a catalyst for spectacular innovation in the on-demand market."

OpSource recently announced it opened its European headquarters, located at Albany House in Maidenhead, Berks, UK.