Black Duck Software Secures $12M in Series B Financing Led by Fidelity Ventures; With Participation from Intel, SAP Ventures, and Original Investors Flagship Ventures, General Catalyst Partners, and Red Hat.WALTHAM, Mass. -- Black Duck Software, Inc., the leading provider of software compliance management solutions, today announced it has secured $12 million in Series B funding led by Fidelity Ventures Fidelity Ventures is the venture capital arm of Fidelity Investments. Based in Boston and London, Fidelity Ventures invests in emerging technology companies in North America and Europe. . Intel Capital and SAP Ventures, a division of SAP AG (company) SAP AG - (Systeme, Anwendungen, Produkte in der Datenverarbeitung - German for "Systems, Applications and Products in Data Processing") A company from Germany that sells the leading suite of client-server business software. The US branch is called SAP America. , also participated in the round, together with existing investors: Flagship Ventures, General Catalyst Partners, and Red Hat. The company also announced that Dave Power, partner, Fidelity Ventures will join its Board of Directors. Black Duck's protexIP(TM) suite allows businesses to identify and manage license obligations for their software assets, enabling safer and more productive use of open source and component software without compromising valuable intellectual property (IP). Black Duck will use the funds to help expand its sales, marketing and product development activities to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the strong demand for automating open source software license compliance. "Black Duck's business is driven by a 'perfect storm' of market trends that together position the company for rapid growth. Mainstream developers' use of open source software, increased outsourcing and offshoring
Offshoring describes the relocation of business processes from one country to another. , new regulatory mandates, and deeper due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. in both licensing and acquisitions are focusing executive attention on internal controls relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc software IP assets," said Douglas A. Levin, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Black Duck Software. "This funding, from such a diverse set of venture capital and software industry leaders, will help fuel our next phase of growth." "Enterprises are embracing open source software for its cost savings, quality and control benefits. Its use is rapidly becoming mainstream in IT organizations around the world," said Dave Power, partner, Fidelity Ventures. "Black Duck helps remove one of the last remaining roadblocks to wide-spread enterprise adoption of open source. Their solutions enable businesses to understand and manage complex license obligations so they can safely and productively use open source software in their critical operations. We're very pleased to support Black Duck in addressing this market with our financial resources and extensive IT application development experience, and believe that the company is well-positioned to become the category leader." "We see the software world as increasingly based on mixed-IP solutions that incorporate open source, commercial and proprietary software within single applications," said Jennifer Scholze, investment manager, SAP Ventures. "Companies need to understand and manage this complex and risky environment with a robust, safe and intuitive solution. Black Duck has demonstrated that they have the solution today - and the vision, industry knowledge, and strong management team needed to meet and surpass customer expectations. We are pleased to be able to support their efforts in this important market." "Intel Capital is investing in companies that provide valuable platforms and services for the software developer community," said Doug Fisher
Douglas Mason (Doug) Fisher (born September 19 1919) is a retired Canadian political columnist and former politician. , general manager, Intel Core The latest generation of the Intel x86 family of CPUs. Core supersedes the 13-year run of the Pentium, which was introduced in 1993. It essentially represents the ninth generation of the x86 architecture, the first chip appearing in the IBM PC in 1981. Software Division. "Intel is pleased to support Black Duck's efforts to bring software compliance management solutions for ISVs and enterprise software customers, the majority of whom are developing software on Intel platforms." In addition, Black Duck and Intel Corporation (company) Intel Corporation - A US microelectronics manufacturer. They produced the Intel 4004, Intel 8080, Intel 8086, Intel 80186, Intel 80286, Intel 80386, Intel 486 and Pentium microprocessor families as well as many other integrated circuits and personal computer networking signed a technical and marketing cooperation agreement to help Black Duck optimize its protexIP(TM) solution for use with 64-bit Intel(R) Xeon(TM) processor-based servers. "Black Duck supports Red Hat's mission to bring the vast benefits of open source computing into the enterprise environment," said Mark Webbink, deputy general counsel, Red Hat. "Black Duck has proven its ability to execute on its vision, garnering the respect of industry analysts and market leaders, as well as praise from both the legal and development communities. We believe the potential for software compliance management solutions is substantial and growing rapidly. We are excited to be a part of bringing this key technology to the market." This new investment follows a Series A funding of $5M announced in July 2004, bringing the total capital raised to $17 million. About Black Duck Software Black Duck Software(TM) is the leading provider of automated software compliance management solutions that help companies govern how software assets are created, managed, and licensed. Black Duck's offerings help businesses take maximum advantage of open source software while at the same time assure they satisfy the obligations associated with the code they use. Black Duck's customer base includes enterprises, product developers, outsourcers, law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
About Fidelity Ventures Founded in 1969, Fidelity Ventures invests private equity in entrepreneurial companies preparing to "go-to-market" in the information technology and communications sectors. By combining a collaborative partnership with a global network, Fidelity Ventures enables its portfolio companies to accelerate their market entrance and become leaders in their respective fields. During the last three decades, the firm has contributed to the success of such industry leaders as GeoTel Communications (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. subsequently acquired by Cisco), Teleport (IPO subsequently acquired by AT&T) and COLT Telecom (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : COLTY). Recent investments include ONI ONI abbr. Office of Naval Intelligence Noun 1. ONI - the military intelligence agency that provides for the intelligence and counterintelligence and investigative and security requirements of the United States Navy Systems (IPO subsequently acquired by Ciena), WaveSmith (acquired by Ciena), Airespace (acquired by Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. ), and Connected (acquired by Iron Mountain). Fidelity Ventures currently manages more than $650 million in venture capital, and invests in U.S.-based companies out of its Boston office, and in European companies It may never be fully completed or, depending on its its nature, it may be that it can never be completed. However, new and revised entries in the list are always welcome. This is a list of companies from the countries in the European Union. out of its London office. For more information, visit www.fidelityventures.com. About SAP Ventures Since 1996, SAP Ventures has been investing in companies that offer exciting new technologies and applications. Leveraging years of experience and drawing on a network of powerful business relationships, SAP Ventures helps entrepreneurs and management teams recruit the best people, make the right technology decisions, win new business, and build their own partner networks. The goal of SAP Ventures is to grow businesses that create shareholder value for everyone involved. For more information, visit www.sapventures.com. About Intel Capital Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. . For more information, visit www.intel.com/capital. About Red Hat Red Hat, the world's leading open source and Linux provider, is headquartered in Raleigh, NC with satellite offices spanning the globe. Red Hat is leading Linux and open source solutions into the mainstream by making high quality, low cost technology accessible. Red Hat provides operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. software along with middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a , applications and management solutions. Red Hat also offers support, training and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" to its customers worldwide and through top-tier partnerships. Red Hat's Open Source strategy offers customers a long term plan for building infrastructures that are based on and leverage open source technologies with focus on security and ease of management. Learn more: http://www.redhat.com. About General Catalyst Partners General Catalyst Partners is a private equity firm that invests in exceptional entrepreneurs and technical founders who are building the software solution and technology platform companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business building and partnership development assistance. General Catalyst is headquartered in Cambridge, Mass. www.generalcatalyst.com. About Flagship Ventures Flagship Ventures is an early-stage venture capital firm focused on creating, financing, and building companies in the Life Science and High Technology sectors. Flagship's team of fourteen investment professionals is among the most experienced in the industry and represents a balance of venture capital, corporate executive, and entrepreneurship expertise. Headquartered in Cambridge, MA, Flagship Ventures was founded in 1999 and manages approximately $800 million. For more information, visit www.flagshipventures.com. Black Duck Software and protexIP are trademarks of Black Duck Software, Inc. All other trademarks are the property of their respective holders. |
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