Benchmark and Accel kiss and make up in SpringSource's Series B
Benchmark and Accel have come together to invest in SpringSource. Even VCs can play nicely together.
Series B investment from Benchmark and new investor Accel, but the interesting factoid behind the investment is that the two firms co-invested at all, given the commonality between the two: Peter Fenton.SpringSource's impressive
Two years ago, Fenton bolted from Accel to Benchmark, a move that jarred the cozy VC world. Partners rarely lateral to another move, and not without considerable consternation because it shakes up board seat arrangements and creates complications as to whose Aston Martin gets which parking spot.
It's therefore good to see that there's no enduring bad blood between Fenton and Accel. The VC world is too small to permit prolonged handwringing over parking spaces. (Peter, you can park your Aston Martin at my house anytime. Just leave the keys under the doormat.)
Congratulations to Rod and the SpringSource team for the investment. Two great firms and what I hear was a sweet valuation.