CollabNet Lands $13 Million From VCs And Oracle
CollabNet Inc., which markets hosted tools for managing large software-development projects, last week closed a $13 million third round of private-equity financing from investors including Oracle.
CollabNet's SourceCast tools help software developers who work across wide areas control versions of code and track bug fixes. The company, founded by Brian Behlendorf, co-founder of the open-source Apache Software Foundation, also hosts open-source development projects. CollabNet's customers include Hewlett-Packard, Oracle, and Sun Microsystems.
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Norwest Venture Partners led CollabNet's most recent round of financing. Other investors included Benchmark Capital, Intel Capital, and NTT Leasing.
CollabNet plans to use the money for research and development, as well as for sales and marketing in new countries.
In October, the company revealed an agreement with Oracle to ensure integration between SourceCast and Oracle's 9i database and JDeveloper tools.
Illustration by John Labbe/The Image Bank
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