Bluenog, an Application Infrastructure Software company, announced the closing of a $4 million Series A round of financing. Led by NewSpring Ventures, the dedicated growth and expansion stage venture fund of the NewSpring Capital fund family, the round will support the expansion of the company's product development and sales and marketing efforts as well as its professional services offerings.
Bluenog provides integrated solutions consisting of both commercial and open source Application Infrastructure Software (AIS). Its focus is on enterprise infrastructure software such as Portal Servers, Enterprise Content Management, and Business Intelligence. The company was founded in 2006 and previously self-funded by the principals. In addition to sales of its core platform, Bluenog is an authorized reseller of software from Actuate, BEA Systems, and Compuware.
“Bluenog has experienced explosive growth and the partnership with NewSpring will allow Bluenog to develop our platform and become a leading provider of Application Infrastructure Software,” said Suresh Kuppusamy, Bluenog's chief executive officer. “NewSpring's experience in providing growth financing will be a great asset to Bluenog, and we are excited at the prospect of working together.”
“Bluenog is at the forefront of integrating open source code base into commercial applications and providing mid-market companies access to full featured commercial applications at an affordable price,” said Michael Poisel, principal of NewSpring Capital. “The Bluenog team has successfully built their business by supplementing its software platform revenue through reselling software and providing consultative services. This entrepreneurial approach has allowed Bluenog to bring its products to market without previously raising any external investment capital.”
As part of the financing, Michael DiPiano and Michael Poisel of NewSpring Capital will join Bluenog's board of directors.
About NewSpring Capital
NewSpring Capital, based in Radnor, Pennsylvania, and Short Hills, New Jersey, is a leading provider of private equity capital focused in the Mid- Atlantic region. NewSpring Capital currently manages approximately $500 million across its fund-specific family of three dedicated funds: (i) NewSpring Ventures provides equity capital to growth and expansion stage companies with a focus on business services, enabling technology, and information technology, (ii) NewSpring Health Capital provides equity capital to healthcare companies within the life science, healthcare services, and medical device sectors, and (iii) NewSpring Mezzanine Capital provides mezzanine capital for expansion stage and buyout opportunities in the business services, healthcare, information technology, and specialty manufacturing sectors. NewSpring Capital partners with entrepreneurs, leveraging its capital and experience, to assist them in turning their visions into reality. To learn more about NewSpring Capital, please visit www.newspringcapital.com .
Bluenog is a software and solutions company that provides commercial, integrated solutions built on open source Application Infrastructure Software (AIS). Bluenog saves organizations time and money by providing pre-integrated products and solutions that blend open source and commercial technologies together. The company's focus is on enterprise infrastructure software including Portal Servers, Enterprise Content Management, and Business Intelligence. Bluenog's open source platform integrates with leading commercial stacks and can also be run stand-alone. For more information, visit www.bluenog.com .