Sendmail receives something nice in the post

It's a $14m round of funding

It's a $14m round of funding

Sendmail, a maker of open source email software, has received $14m in funding which it hopes will see it trhough to profitability in Q1 next year. The company also plans to use the money to purchase a start-up which develops calendar software. Sendmail competes against Microsoft, Sun Microsystems and IBM with its email server software. It claims the new calendar offering should ramp up its competitive edge. The latest round of financing came from existing investors who have already pumped $35m into the company.