SpringSource raises $15m in B round

Open source continues to drive big financings.

The Series B round was led by Accel Partners. Benchmark Capital, the lead investor in SpringSource's first round of financing, also participated. Word on the street is that the valuation was very pleasing to the team there.

I didn't think much about the Covalent acquisition when it happened but now that Iona is going away, SpringSource is the one-stop shop for Spring, Tomcat and ActiveMQ along with their new Spring Application Platform.

Good for the Spring guys for figuring out how to monetize Apache-licensed projects while building in secret sauce to sell their products. The subtle shift from free software to open source shouldn't be underestimated. Just selling support is not a sustainable business model.

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About the author

Dave Rosenberg has more than 15 years of technology and marketing experience that spans from Bell Labs to startup IPOs to open-source and cloud software companies. He is CEO and founder of Nodeable, co-founder of MuleSoft, and managing director for Hardy Way. He is an adviser to DataStax, IT Database, and Puppet Labs.

 

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