Open Xchange lands $9 million funding round
The Microsoft Exchange challenger prepares to further invest in its open source e-mail and collaboration software with an infusion of capital from investors.
Open-Xchange announced Monday it landed a $9 million second round of funding, with the proceeds earmarked for furthering its software development and expansion of its U.S., European, and emerging markets.
eCapital led the round, with BayBG and existing investor BayTech Venture Capital contributing to the round. The company has raised a total of $17.8 million to date.
Open-Xchange, which last year named a new chief executive and a new chief technology officer, develops software aimed at taking share from Microsoft's Exchange offerings.
The open source start-up develops software designed to provide e-mail, document sharing, shared calendars, and address books, as well as other collaboration features.