February 8, 2006 8:31 AM PST
Funds flow for open-source document company
Alfresco, a start-up whose open-source software is used to manage documents in corporate environments, announced Wednesday that it received $8 million in a second round of venture funding. The Mayfield Fund led the Series B investment round, while Series A investor Accel Partners also contributed again. Mayfield's Robin Vasan will join the Alfresco board as part of the deal.
Afresco was started in 2005 by John Newton, co-founder of ECM provider Documentum, a proprietary document management company acquired by EMC for $1.7 billion in 2003, and John Powell, former chief operating officer of business intelligence firm Business Objects.