GroundWork Open Source Secures $5 Million in Series D Financing

GroundWork Open Source, Inc., a provider of commercial open source systems and network management software, announced it has secured $5 million in its fourth round of venture capital financing.

The series D financing, which was led by Canaan Partners, includes past investors Mayfield, JAFCO Ventures and SAP Ventures. The latest investment will be used to help further execute on GWOS' vision of delivering a disruptive solution that eliminates IT administration isolation, providing a unified platform based on open source, open standards and a thriving community as viable resources.

"GWOS has matured greatly in the last five years, and has completed some substantial programs that are required to build an impressive business," said Deepak Kamra, general partner of Canaan Partners. "We look forward to GWOS' continued success and growth."

According to Company officials, over the past year, GWOS has made huge strides in the commercial open source IT monitoring arena. Just this past month GWOS reached two milestones that will change the face of the company -- the development and launch of MonitoringForge.org and a complete platform switch to JBoss in its flagship product, GroundWork Monitor 6.0. GWOS said that these successes flank the seeding of new executive leadership, and participation in the Microsoft System Center Alliance program. GWOS was featured in this year's Gartner Magic Quadrant for IT Event Correlation and Analysis and was recognized in Gartners' Hype Cycle for IT Operations Management.

"We are pleased to provide our community with a powerful solution that matches their diverse data center management need," said Peter Jackson, CEO of GWOS. "Our team is committed to delivering the best solution to our users by leveraging the center point of open source - the transparent and accessible knowledge. Look for more great things from GWOS that will change how IT monitoring will be done."

Canaan Partners invests in visionary entrepreneurs and provides them the networks, insights and operational guidance required to build high-performance technology and healthcare companies.

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