| Open source IT firm raises $3M in funding |
Jun. 01, 2004
Oakland startup GroundWork has received a $3M round of from Canaan Partners. The company provides open-source IT management software and reports saving customers 20 percent over the cost of commercial software.
GroundWorks products give enterprises a low cost IT infrastructure management solution with network and systems monitoring, service desk management and IT dashboards, based on open source software. The company's solutions collect performance data for networks, systems, applications and security.
The company counts 17 customers to date including Rudolph & Sletten, Phoenix Technologies Ltd., and LSI Logic. "We partnered with GroundWork to build an enterprise monitoring system, and it has transformed the reputation of IT within the company," said Cliff Bell, CIO of Phoenix.
As part of the financing, two Canaan partners, Deepak Kamra and Skip Glass, have joined the GroundWork's board of directors.
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