SpringSource Raises $15 Million

SpringSource, a San Mateo, Calif.-based provider of an enterprise Java application server, has raised $15 million in Series B funding. Accel Partners led the round, and was joined by return backer Benchmark Capital.

PRESS RELEASE

SpringSource, the company behind Spring, the de facto standard in enterprise Java, and a leading provider of infrastructure software, today announced it has closed a $15 million round of financing that will help the company continue to expand its operations and accelerate its growth strategy.  The Series B round of venture capital financing was led by Accel Partners. Benchmark Capital, the lead investor in SpringSource’s first round of financing, also participated.

“We’re very pleased to have Accel Partners join our investment team along with Benchmark Capital, two of the most respected investors in venture capital and both with long track records of remarkable success,” says Rod Johnson, CEO of SpringSource.   “Accel and Benchmark bring valuable insight and acumen along with proven entrepreneurial spirit which will greatly help to guide and fuel our fast-growing business as we move forward.”

“The software landscape has changed dramatically over the past decade.  We’ve found great communities are often a prerequisite to today’s great software companies, and it is tough to find a more ubiquitous and engaged community than the one powering SpringSource,” says Kevin Efrusy, general partner at Accel Partners.  “We look forward to rolling up our sleeves and working with the team to build a great company.”  Mr. Efrusy has also joined the SpringSource board of directors.

“SpringSource led the reinvention of enterprise Java through its Spring Portfolio technologies and is now leading the way in providing viable alternatives to legacy Java EE application servers,” says Peter Fenton, general partner at Benchmark Capital.  “Benchmark is excited to continue our investment in SpringSource as it strives to become the dominant company in open source enterprise Java.”

SpringSource recently unveiled the SpringSource Application Platform�, a powerful and highly flexible enterprise Java application server that provides a dramatically simpler alternative to legacy application servers and redefines the way in which Java applications are deployed and run.  The company also recently introduced SpringSource Enterprise, which includes certified, tested and indemnified software coupled with advanced production and development capabilities as well as support.

About Accel Partners
Accel was established in 1983, and today invests globally with offices in Palo Alto, California and London, as well as in China via the IDG-Accel Partnership. With over $4 billion under management, Accel has helped technology entrepreneurs build over 300 successful companies, many of which have defined their categories. The Accel portfolio includes long-term market leaders such as Veritas, RealNetworks, Foundry Networks and Polycom, as well as more recent leaders like MetroPCS (PCS), Facebook, Infinera (INFN), ComScore (SCOR), and Riverbed Technologies (RVBD). For more information visit: www.accel.com.

About Benchmark Capital
Benchmark Capital, a leading international venture capital firm, was founded in 1995 to help talented entrepreneurs with original ideas build successful technology companies. Benchmark’s general partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm’s portfolio companies. Benchmark’s portfolio includes high-profile start-ups like Infinera, MySQL, OpenTable, Second Life, Tellme, Yelp, and Zillow, and franchise companies such as eBay, Juniper Networks and Red Hat. The firm manages more than USD 2.4 billion in committed venture capital. For more information on Benchmark Capital, visit its website at www.benchmark.com.

About SpringSource
SpringSource is the company behind Spring, the de facto standard in enterprise Java. SpringSource is a leading provider of enterprise Java infrastructure software, and delivers enterprise class software, support and services to help organizations utilize Spring and, through its acquisition of Covalent, manages infrastructure technologies from the Apache Software Foundation. More than half of the Fortune 500, including many of the world’s largest financial institutions, retailers, manufacturers, healthcare, technology and public sector clients are SpringSource customers. For more information visit:  www.springsource.com.