Corporate Sponsorship in New Ideas Translates Into Money and Deals

Mark Menarik, COllabNet-Chicago

As an example, at CollabNet we completed a $35 Million funding round last July. We had a select few venture capital firms and several leading technology companies invest in our collaborative software development services company based on open source (Linux, Apache, etc.) principles. Venture capital firm Bowman Capital led CollabNet’s Series B financing round with initial investor, Benchmark Capital, also returning. We also received strategic investments from major hardware, software and services companies, including: Dell Ventures, Hewlett-Packard, Intel Capital, Niku Corp., Novell, Opus360, Oracle, Sun Microsystems, and TurboLinux. In addition, WR Hambrecht + Co., O’Reilly & Associates as well as Netscape co-founder Marc Andreessen, a member of CollabNet’s board of directors, are invested in the company.

This has worked out well with our first several announced software developer’s community projects are with Sun, Hewlett-Packard, and Oracle among others.