Alfresco Gets Funding for Growth


Following Openads' recent £7.9 million funding, another UK open source company has lined up some serious money:

Alfresco Software Inc., the leader in open source enterprise content management (ECM), today announced the completion of a $9 million Series C round of financing led by SAP Ventures, bringing total funding to $19 million. Existing investors Accel Partners and Mayfield Fund also joined the round.

Alfresco will use the proceeds to fund continued growth into the enterprise content management market, including product development and acceleration of global expansion plans, particularly in the German, US and Asian markets.

There's obviously a lot of VC dosh sloshing around in the open source sector at the moment; it's a pity that there aren't many UK players who might benefit. Perhaps now would be a good time to launch some new free software startups here.

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