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JBoss: Article

$10 Million "Infusion" for JBoss

$10 Million "Infusion" for JBoss

After announcing just last week that Q4 of 2003 was "the most successful of the company’s history in terms of strategic initiatives, product expansion and customer and partner growth," JBoss inc. has now announced even bigger news: the securing of $10 million in VC financing.

The $10 million is the result of what the company describes as "an oversubscribed first round of venture financing" led by Matrix Partners, with the participation of Accel Partners.

The new funds, JBoss Inc says, will be used "to strengthen the company’s profitable balance sheet and support product development, infrastructure build-out, and marketing" - allowing JBoss to ramp up to meet growing enterprise demand for the JBoss application server and support services.

In addition, one of Matrix's general partners, serial entrepreneur, David Skok - previously the founder and CEO of SilverStream Software - joins the JBoss Board of Directors.

"Both enterprise customers and major industry partners have selected JBoss and our Professional Open Source business model as the safe choice for mission-critical applications," says JBoss CEO, Marc Fleury.

Fleury acknowledges that the success of an open source solution like JBoss is largely a function of the wider OS community.

"We appreciate the key role that the open source community plays in our ability to create a quality product," he says. "Much of the success that we have experienced is a result of the rapid, high-quality development taking place in the open source community today."

 

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JDJ News Desk monitors the world of Java to present IT professionals with updates on technology advances, business trends, new products and standards in the Java and i-technology space.

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