9/29/2004 - SourceLabs, a provider of tested, certified, and supported open source systems, announced that it has secured a $3.5 million investment from Ignition Partners and Index Ventures to deliver on the promise of Dependable Open Source Systems. The funds will fuel rapid deployment of the company’s offerings, ongoing research and development and expansion of its sales and marketing activities. SourceLabs also announced that industry veterans Brad Silverberg, managing partner of Ignition Partners, and Danny Rimer, partner at Index Ventures and investor in leading open source vendors MySQL and Zend, will join the company’s board of directors.
Founded in 2004 by industry executives Byron Sebastian, Will Pugh and Cornelius Willis, SourceLabs has created a new vision for software that is free from lock-in agendas. SourceLabs’ Dependable Open Source Systems approach outlines six promises that the company makes to its customers and partners to ensure openness and reliability. A summary of the promises is posted on the company’s website http://www.sourcelabs.com/plan.
“Customers shouldn’t have to choose between ‘dependable’ and ‘open’ when they are deciding what software to use,” said Byron Sebastian, CEO of SourceLabs. ”SourceLabs will thrive based on the dependability and responsiveness of our services for integrated open source systems, and our commitment to and investment in the ideals, projects, and people of the open source community.”
SourceLabs will provide on-demand mission critical support, maintenance and other services for systems integrated from multiple open source projects. The company will test and certify these combined systems for production level loads and provide patches and problem resolution in the event of customer issues.
“SourceLabs is providing what enterprise customers have been waiting for: someone to stand behind integrated open source systems,” said Rich Freyberg, former CIO and SVP at Charles Schwab. "Customers really do want ‘one throat to choke’, and SourceLabs is the first company to provide this.”
“The Open Source paradigm shift changes our notions of 'product' and 'service'," said Tim O’Reilly, founder and CEO of O'Reilly Media. “By providing and supporting pre-integrated systems, SourceLabs can eventually deliver the same kind of customer assurances that large proprietary systems vendors provide, but in a way that is technology agnostic and free from lock-in agendas."
“SourceLabs is taking a new approach to accelerating open source adoption by providing integrated stacks of supported, tested, and certified software," Said Matt Asay, Director, Linux Business Office & Open Source Review Board, and founder of the Open Source Business Conference. “With this technology agnostic approach, SourceLabs can successfully deliver dependable, open source systems to customers."
Byron Sebastian founded SourceLabs based on his extensive experiences with large enterprises, ISVs, open source companies, and open source developers who described the need for dependable open source systems. Previously Byron served as Vice President and General Manager of the WebLogic Portal and Workshop Divisions at BEA Systems. Byron's career includes various product development and marketing roles at Crossgain and Amazon.com as well as consulting for numerous large enterprises.
Headquartered in Seattle, Washington, SourceLabs provides the complete set of software integration, testing, support and maintenance services required to deliver dependable open source systems. The Company’s Dependable Open Source Systems vision proposes a new model for the software industry. More information is at www.sourcelabs.com
About Ignition Partners and Brad Silverberg
Ignition Partners, headquartered in Bellevue, Wash., is a premier venture capital firm focused on early stage computing, network infrastructure and telecommunications startups in the Western United States. Ignition brings together an unparalleled combination of domain focus, technical expertise and operational experience. Ignition's partners are proven business leaders with more than 160 years of combined experience, who have built some of the world's most successful businesses of the last two decades, including Microsoft Windows, McCaw Cellular Communications, AT&T Wireless and Microsoft's enterprise business. For more information please visit www.ignitionpartners.com
Prior to founding Ignition, Brad Silverberg was a senior VP at Microsoft, where he served as a member of Microsoft's nine-person Executive Committee. Responsible for driving all aspects of the Windows businesses, he grew Windows from a $50 million to a more than $3 billion business. In 1995, for his leadership of Windows 95, Silverberg was named PC Magazine's Person of the Year. He led the Internet turnaround at Microsoft and was responsible for Microsoft's Internet platform, including Internet Explorer. In addition, he managed Microsoft’s developer and Office divisions before retiring from Microsoft in 1999.
About Index Ventures and Danny Rimer
Index Ventures is a venture capital fund dedicated to helping top entrepreneurial teams build their companies into global leaders. Index proactively seeks out opportunities to invest in companies with products and services that drive the transformation of their industries. Index’s company building approach allows each portfolio entrepreneur to leverage the combined experience, networks and resources of the entire partnership. Managing $500 million in capital, the Index team has been active in technology investment since 1992. Investors in Index funds include major European and US institutions as well as Cisco, Oracle, Sun and AOL. The firm has offices in Geneva and London and focuses its activity primarily on Europe and Israel. www.indexventures.com
Danny Rimer joined Index Ventures in 2002 and currently serves on the boards of KVS, MediaSurface, MySQL, Skype, Video Island and Zend, and is an observer on Betfair. Prior to joining Index, Danny was a general partner of The Barksdale Group and Managing Director in Hambrecht & Quist's (now JP Morgan) Equity Research Group. At H&Q, Danny was the underwriting analyst for companies including Amazon, CheckPoint, CNET, Netscape, and Verisign.
SourceLabs is a trademark of SourceLabs, Inc.
Previous Page | News by Category | News Search
If you found this page useful, bookmark and share it on: