BURLINGTON, MA, Black Duck Software, the leading provider of OSS Logistics solutions for the deployment and management of Open Source Software (OSS), today announced the closing of a $20 million investment round led by General Catalyst Venture Partners, with all existing investors also participating in the round. The funding will be used to help the company expand its global Go-to-Market model to meet the rapidly growing market opportunities for OSS Logistics. In addition, the company announced today the appointment of Stephen Gregorio as Chief Financial Officer and Executive Vice President.
Gregorio, who played a critical role in securing new funding, has over 25 years of financial management experience in high-growth technology companies, including Verdasys, Interwise Corporation (acquired by AT&T) and Gensym Corporation, among others. Reporting directly to Black Duck President and CEO Lou Shipley, Gregorio will help Black Duck grow aggressively in the fast-growing OSS Logistics sector.
‘With this funding in place, we are well positioned to advance OSS Logistics solutions across the enterprise,’ Shipley said. ‘Over the next 18 months, we will release powerful new solutions aimed at addressing critical supply chain and software development challenges that have resulted from the explosive growth of OSS in companies around the world. Black Duck is among the first to recognize the need for a smarter, more efficient approach to streamlining, safeguarding and managing the development and deployment chain of software. As such, we are ready to help the most innovative organizations in the world leverage, secure and expand their open source investments to achieve greater business success. ”
According to Gartner, a leading market research firm, 95 per cent of all IT organizations will leverage non-trivial elements of OSS technology in their mission-critical IT portfolios by 2016, and less than 50 per cent of organizations will have implemented an effective OSS procurement and management strategy. Black Duck has a rich history of helping Fortune 1000 companies dramatically improve software quality, speed up application lifecycles, and improve compliance while alleviating security risks.
Black Duck’s Board of Directors and investment advisors are equally optimistic about the future of the company in this emerging market.
‘We have partnered with Black Duck since it was founded, and over the last decade the company has successfully evangelized and supported the safe and sound use of open source software for thousands of companies worldwide. Now that OSS has matured and become ubiquitous across organizations of all sizes, they are ready to drive the next phase of explosive innovation and market growth,” said Larry Bohn, Managing Director at General Catalyst Partners. ‘Black Duck is the only platform that enables companies to manage the increasingly complex OSS logistics frontier. It’s a great example of a company that we’ve been bullish about for a long time, which has maintained its focus while the market has been catching up with its vision. Its future looks so exciting ”
Gregorio’s proven experience in financial management will further accelerate Black Duck’s growth In his previous positions, he was successful in managing IPOs, managing mergers and acquisitions on both sides, raising both debt and equity capital, and serving as general counsel, negotiating customer, partnership and channel agreements.
About the Catalyst General
General Catalyst Partners is a venture capital company that makes early-stage and growth equity investments. The firm supports exceptional entrepreneurs who are building innovative technology companies that transform industries, including KAYAK, Demandware, Stripe, Airbnb, The Honest Company, Warby Parker, Datalogix, BigCommerce, Snapchat, HubSpot and Datto. The General Catalyst Partnership leverages its extensive experience to help founders build market-leading businesses. General Catalyst has offices in Cambridge, MA, Palo Alto, CA and New York City; Visit General Catalysts www or com Twitter Twitter comm/gcvp
Black Duck Software
Black Duck is the only end-to-end OSS Logistics solution in the world that enables companies of all sizes to optimize opportunities and solve logistical challenges arising from open source adoption and management. As part of the larger open source community, Black Duck connects developers to comprehensive OSS resources through The Black Duck Open Hub (formerly Ohloh) and to the latest industry expert comments through the Open Source Delivers blog. Black Duck is also hosting the Open Source Think Tank, an international event where thought leaders are working together on the future of open source. Black Duck is based near Boston and has offices in San Mateo, London, Paris, Frankfurt, Hong Kong, Tokyo, Seoul and Beijing. Visit www for more information on how to leverage open source to deliver faster innovation, greater creativity and improved efficiency. BlackDucks Software Come and follow the company at @black_duck_sw
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