Acquia a success

Summary:Acquia has always been a good model for how an open source company can actually make money. The good news rolls on.

The fact that Drupal creator Dries Buytaert's Acquia is a success is not news.

The size of that success can be difficult to measure, given the company remains in private hands. But today we have some numbers and the answer is it's pretty successful.

Acquia just closed a new $8.5 million round of financing, bring the total capital advanced to $23.5 million, Dries reports. "We weren’t sure if we could go any faster but we just found the turbo button," he writes.

He didn't have to look far. The new capital comes from existing investors, North Bridge Venture Partners and Sigma Partners, together with Acquia CEO Tom Erickson. Erickson did real well with Systinet and, before that, webMethods. He could be sitting on a beach somewhere but making money is a hard habit to break.  And when the insiders are doubling-down it's usually a good sign.

An official release notes that Acquia tripled its customer base in 2010, and has big plans for 2011. The company has multiple business models, as Dries notes:

Much of the money will be used in a geographic expansion, including the opening of a European office. Since Buytaert is Belgian, you might say he's coming home. (The success of Acquia has also encouraged a host of other European open source start-ups, as I learned last month.)

Acquia has always been a good model for how an open source company can actually make money. The good news rolls on.

    Topics: Open Source

    About

    Dana Blankenhorn has been a business journalist since 1978, and has covered technology since 1982. He launched the Interactive Age Daily, the first daily coverage of the Internet to launch with a magazine, in September 1994.

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