Click to Save up to $300/yr on callsOpen-source Marketcetera gets $4 million to help others make millions
Marketcetera just announced a $4 million series A round of venture funding with Shasta Ventures and Jack Selby, managing director and co-founder of Clarium Capital. There's something highly appropriate in a hedge fund investing in a software company set up to help hedge funds (and others).
Marketcetera, as I've opined before, is one of the coolest open-source companies on this planet. It provides an open-source trading platform for hedge funds and others to process and deliver trades.
Marketcetera can start with algorithmic trades for hedge funds, but that's just the beginning. As Dana at ZDNet suggests, open source is increasingly "the traditional way" that software will get done. The fact that Marketcetera is open source will help it, and certainly won't pigeon-hole where it takes the technology or its business.
Congratulations to the Marketcetera team!
Matt Asay is general manager of the Americas and vice president of business development at Alfresco, and has nearly a decade of operational experience with commercial open source and regularly speaks and publishes on open-source business strategy. He is a member of the CNET Blog Network and is not an employee of CNET. Disclosure.
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Industry news,
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Startups
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Marketcetera,
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venture funding,
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open source
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