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Monday, November 1, 2010

Acquia adds $8.5M to open-source firm's fundraising

By Michelle Lang

Acquia Inc., a Drupal-based social publishing firm, has raised an $8.5 million Series C round of funding from return Boston backers North Bridge Venture Partners and Sigma Partners, along with Acquia CEO Tom Erickson.

The Boston-based company plans to use the funds to support its growing operations in the U.S. and Europe, and help develop its software as a service and platform as a service products for the open-source Drupal.

Acquia currently develops Drupal Gardens as a SaaS-based product, Drupal Commons as a source for building social websites and Drupal cloud services for flexible, scalable Drupal support.

Founded in 2007, Acquia closed its first round of venture financing, worth $7 million, that year, from San Francisco-based O’Reilly Alphatech Ventures, Sigma Partners and North Bridge. Its second round of fundraising came in July 2009, when it picked up $8 million from Sigma and North Bridge.

The company’s latest round brings its total venture funding to about $23.5 million.

In 2009, Acquia indicated that it aims to be the anchor company at the core of the Drupal community – the equivalent to the role of Red Hat Inc. within the Linux open-source community, according to Dries Buytaert, the open-source programmer who founded the Drupal platform for web development in 2001.




 

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