OpenSpan, a developer of productivity software solutions, has closed on $13 million in a “C” round of venture funding.
With the new funds, the company plans to add staff, expand its operations and add more capabilities to its products.
FTVentures and Globespan Capital Ventures led the round.
Last March, several former JBoss executives joined OpenSpan after Red Hat acquired JBoss. Rob Bearden took over as chief operating officer, Brad Murdoch as vice president of product management and international sales, Tom Leonard as vice president of worldwide channels and Joe McGonnell as vice president of marketing. Jeff Miller, also formerly of JBoss, was hired as senior director of sales for western North America.
OpenSpan closed on $8 million in venture financing in November 2006. The company launched in March 2005.
Also participating in the “C” round were existing investors Matrix Partners, Sigma Partners and Imlay Investments.
OpenSpan works with clients to speed up desktop and legacy applications. Its latest release is OpenSpan Platform 4.0.
While the company does not disclose its finances, OpenSpan said revenues for the first have of this year “have already exceeded all of 2007.”
“In today’s challenging global economy, organizations recognize that they need to do more with less, both in terms of people and technology,” said Francis Carden, OpenSpan’s chief executive officer, in a statement. “Enterprises are increasingly choosing OpenSpan to integrate the legions of un-integrated applications that were a result of years of custom development projects and mergers and acquisitions. OpenSpan expects to deliver productivity improvements to an ever-increasing number of global enterprises and the support of our investors will make this possible.”
