Mar, 2003 : OpSource Secures Venture Capital Funding

📅 March 27, 2003 - IT infrastructure services company OpSource Inc. (OpSource.net ) announced on Wednesday that it has closed its series "A" funding round, adding a $2 million investment by Artiman Ventures for a total of $6.5 million in equity investment.

Though it is a relatively new company, OpSource has grown into a competitive provider of managed IT infrastructure services, with 30 customers and operations in four major US markets. The company will use the funds generated by the financing round to fuel mergers and acquisitions, as well as general business operations.
Artiman Ventures general partner Farrokh Billimoria will join OpSource's board of directors, joining OpSource CEO Treb Ryan, ComVentures partner Jim McLean and Spagnolo Group president Mark Spagnolo.
"OpSource's growth potential, as demonstrated in the company's first seven months of operations, make the company an attractive investment in a mission-critical area of IT services," said Billimoria. "With an experienced management team, customer traction that includes well-known Fortune 500 companies, and innovative technology and services, we believe OpSource is well positioned for profitable growth."

Reads: 1952 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/ops032703.cfm

Company: OpSource

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