OpenSpan Secures $13 Million of C-Round Funding

OpenSpan (News - Alert), a major player in desktop productivity and SOA acceleration software, has secured $13 million of C-round venture capital funding. This is expected to help OpenSpan accelerate its growth with strategic new hires, expanded operations, including international markets, and continued investments for building out the company’s innovative client-side integration technology.

 

The funding round was co-led by FTVentures and Globespan Capital Partners, and included re-investments from Matrix Partners, Sigma Partners and Imlay Investments.

 

“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 (News - Alert), CEO of OpenSpan.

 

“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,” added Carden.

 

Global 2000 enterprises leverage the OpenSpan Platform to integrate applications, service-enable legacy systems, automate business processes, extend functionality and build new composite applications in order to realize immediate value on their IT investments.

 

OpenSpan and its partners utilize the company’s unique approach to integration to accelerate service-oriented architecture (SOA) deployments and increase enterprise desktop productivity. 

 

In 2007, OpenSpan revenues grew 440 percent with the company signing up 30 new customers, nearly half of which came from outside of North America.

 

OpenSpan’s 2008 revenue has already exceeded all of 2007, and the company will use the new funding to maintain this momentum.

 

“OpenSpan has experienced widespread adoption of its technology on a global basis, and we feel the company has the infrastructure and leadership team in place to build on this growth,” said Dave Fachetti, managing director, Globespan Capital Partners.

 

“With an extremely unique approach to application integration, OpenSpan is well positioned to continue its global expansion, helping enterprises accelerate SOA deployments and streamlining desktop environments to drive business efficiency improvements,” stated Fachetti.

 

OpenSpan also announced that Fachetti would join OpenSpan’s board of directors and Liron Gitig, principal, FTVentures will join as a board observer.

 

Globespan Capital Partners is a global venture capital firm investing in information technology companies. The firm's investment team has a proven track record based on partnering with management teams to build strong, successful companies.

 

With offices in Boston, Palo Alto (News - Alert) and Tokyo, Globespan invests in companies all across the U.S. and in Japan on behalf of a global base of limited partners.