Commercial Open Source Software Company Acquia Raises $8.5 Million More
Acquia, a Boston-based
commercial open source software company that provides a set of tools and network
services for the Drupal social
publishing system, has raised $8.5 million in third-round funding.
The financing comes from existing investors
North Bridge Venture Partners and Sigma
Partners together with Acquia CEO Tom
The Series C round brings the company’s total of capital
raised to $23.5
million and comes at a time when Acquia is experiencing massive
growth in terms of customers and partners.
The additional capital will be used to expand operations in the
Europe and the further development of SaaS and
platform-as-a-service offerings for Drupal, the company says.
Acquia offerings for Drupal include website hosting,
custom distributions, a search platform, training and
professional services. Acquia also markets
Drupal Gardens, an
easy-to-use publishing and management platform for Drupal sites,
Commons, social business software for community sites.
Acquia says it’s seeing massive adoption in the enterprise
space, helping companies like Red Hat, The Economist, Intuit and
Thomson Reuters build, deploy and operate their corporate websites,
social communities and intranets.
The company says it tripled its customer base in 2010, attracted
over 220 partners across the entire system and grew its employee
force from 30 to 70 FTEs.
Acquia is keen on pointing out that it gives back to the Drupal
community in a big way – the creator of the social publishing
system happens to be the company’s cofounder and CTO Dries Buytaert – and says 30% of
its R&D team currently works directly on Drupal 7.
Acquia even publishes a site called Drupal Myths which it
uses to “set the record straight on the countless benefits of
Drupal, dispelling many
of the fallacies that continue to be spread by less innovative
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