XAware Inc., a Colorado Springs, Colo.-based provider of open-source data integration solutions, has raised $7.4 million in Series C funding. vSpring Capital led the round, and was joined by fellow return backers Sequel Ventures, ITU Ventures and BMJP LLC. New investor GMT Capital also participated.
PRESS RELEASE
XAware, Inc. today announced the completion of a $7.4 million round of venture funding. The additional capital will enable XAware to continue the growth of its open source business model, as the company strives to become the world's most popular way of integrating data and applications.
The round was led by vSpring Capital. Firms participating include new investor GMT Capital, a $3.5 billion hedge fund based in Atlanta, Georgia, and existing investors vSpring Capital, Sequel Ventures, ITU Ventures and BMJP LLC.
“Integration has been, is today and will continue to be one of the biggest problems in information technology,” said Ed Ekstrom, managing director at vSpring Capital and former executive at Intel Corporation. “We believe open source and data integration represent a tremendous opportunity and XAware is well positioned to become the market leader.”
The XAware Project was created to make full featured data integration tools available to all developers under an open source GPL v2 license. Featuring an Eclipse-based design environment and a runtime engine based on the Spring Framework, XAware's open source software is an enterprise-proven product that decreases development and testing time and provides re-usable data components for future projects. XAware version 5 provides a simple, easy to use solution for data conversions and migration, real-time integration and creation of SOA-based data services.
“We've been delighted with how well the XAware product, XAware 5, has been received,” said Tim Harvey, president and CEO of XAware. “In the short time since the XAware open source project was announced, we have had an exceptional number of visitors to xaware.org and thousands of downloads of XAware 5. This funding will enable us to focus on rapidly expanding our community development and support activities.”
In addition, the company announced today that Katie Poplin has joined XAware as Senior Director of Community Development and Marketing in XAware's Atlanta office. Poplin brings significant open source experience to XAware from her recent positions at both Red Hat (NYSE: RHT) and JBoss.
About XAware, Inc.
XAware is the first company to provide a comprehensive open source solution for Data Integration. XAware provides users with the ability to rapidly design and implement data integration projects for conversions and migrations, synchronizing data in real-time and integrating applications and business processes. Furthermore, XAware utilizes a Service Oriented Architecture (SOA) to quickly and efficiently transform data, regardless of the source, into reusable components. This unique ability to service-enable data improves developer productivity and accelerates time-to-market. XAware features an Eclipse-based development environment and can be implemented to take advantage of almost any IT infrastructure. Companies worldwide, including AXA (NYSE: AXA), S1 (NASDAQ: SONE) and Synovus (NYSE: SNV) rely on XAware for their data integration needs. For community information please visit: www.xaware.org and for corporate information on XAware, please visit: www.xaware.com.
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