Open Source Startups: Rolling In Cash

No IPOs, and M&As look a little shaky, but there’s plenty of money coming into startupland. One particularly hot sector: Any company that can plausibly call itself “open source”. Open source companies raised $203.75 million in Q1, double the amount from a year ago, and more than the previous record of $193.7 million set in Q4 2006. This also comes on the heels of a terrible Q4 of last year in which only $50.2 million was raised, a 74% drop y/y.

Who got the dough? Among others: Automattic, which owns WordPress; Greenplum, which makes “business intelligence” software; and SugarCRM, which is an open source … CRM company. Each raised between $20 and $30 million in the second round of financing, VentureBeat reports.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.