SOURCE: OpenLogic

August 16, 2011 11:11 ET

OpenLogic Secures Additional Funding to Accelerate Growth in Cloud

Leader in Open-Source Software Support to Launch Cloud Solution

BROOMFIELD, CO--(Marketwire - Aug 16, 2011) - OpenLogic, Inc., the leading provider of enterprise open source software support, scanning and governance solutions today announced that it has secured an additional $2 million in new funding and converted existing bridge financing, with participation by existing investors Pelion Venture Partners, Red Rock Ventures, Appian Ventures, OnCorps, Highway 12 Ventures and Village Ventures as well as new investors.

OpenLogic will use the additional capital to accelerate investment in its cloud solutions and partnerships with leading cloud infrastructure providers. The company enjoyed record growth in 2010, driven by the launch of its new Source Code Scanning and License Compliance solutions. In Spring 2011, the company announced a beta version of its new OpenLogic Trial Cloud, which will launch later this year. The award-winning OpenLogic Trial Cloud was recently named People's Choice Winner at the 2011 Cloud Connect Launch Pad competition. The OpenLogic Trial Cloud provides developers with an instant-on sandbox in the cloud to experiment and prototype using open source technologies, enabling quick and easy application deployment in any public or private cloud. The product also includes web-based tools to automatically track cloud costs, measure cloud SLAs, monitor application performance, and ensure compliance with open source licenses.

"2010 was OpenLogic's 'Year of Scanning' when we saw record growth after launching our new scanning products and services," said Steven Grandchamp, OpenLogic CEO. "We expect 2011 to be our 'Year of the Cloud' as we launch the new OpenLogic Trial Cloud. Open source technologies are powering the applications running in the cloud. Our cloud solutions combined with our open source expertise will enable enterprises to quickly get up and running in the cloud. With these new product lines, we continue to deliver on our vision of supporting and extending open source adoption within enterprises. The new round of funding will enable us to continue to expand our product and service offerings for companies and developers interested in the benefits of open source."

"OpenLogic is poised to take advantage of the nexus of cloud computing and open source technologies. Their strength in open source technologies and support combine with OpenLogic Trial Cloud, and other cloud solutions under development will help accelerate enterprise cloud deployments," said Carl Ledbetter, Managing Director of Pelion Venture Partners. "In addition, OpenLogic embodies the lean startup approach by being capital efficient and leveraging open source technologies, agile development and rapid customer-centric iteration. This combination of the high-growth cloud market, strong results and operational discipline makes this an exciting company for both investors and customers."

For more information about the OpenLogic Trial Cloud, or to sign up for the private beta, please visit: www.openlogic.com/cloud

To watch a video about the OpenLogic Trial Cloud and how it helps Nigel the enterprise developer on his Great Cloud Quest, please visit: www.openlogic.com/cloud

About OpenLogic
OpenLogic is a leading provider of open source solutions that enable enterprises to safely acquire, support, and control open source software. OpenLogic provides enterprises with a certified library of open source software that encompasses hundreds of the most popular open source packages via OpenLogic Exchange (OLEX), a free web site where companies can find, research, and download certified, enterprise-ready open source packages on demand. With the broadest open source coverage in the industry, OpenLogic offers indemnification; updates; and enterprise-grade technical support backed by the OpenLogic Expert Community. OpenLogic also provides solutions for open source scanning and governance -- reducing the risk and maximizing the cost savings associated with using open source software. For more on OpenLogic, go to www.openlogic.com.

Contact Information