June 25, 2008 9:18 PM PDT

SpringSource raises $15m in B round

The Series B round was led by Accel Partners. Benchmark Capital, the lead investor in SpringSource's first round of financing, also participated. Word on the street is that the valuation was very pleasing to the team there.

I didn't think much about the Covalent acquisition when it happened but now that Iona is going away, SpringSource is the one-stop shop for Spring, Tomcat and ActiveMQ along with their new Spring Application Platform.

Good for the Spring guys for figuring out how to monetize Apache-licensed projects while building in secret sauce to sell their products. The subtle shift from free software to open source shouldn't be underestimated. Just selling support is not a sustainable business model.

Dave Rosenberg dishes up "Software, Interrupted" with nearly 15 years of technology and marketing experience that spans from Bell Labs to multiple start-up IPOs to open-source enterprise software companies. He is co-founder of MuleSource and currently serves as the general manager of Hardy Way. He is a member of the CNET Blog Network and is not an employee of CNET. Disclosure. You can contact Dave via e-mail at softwareinterrupted@gmail.com or follow him on Twitter @dr138.

Topics:: Open source,; Market Dynamics,; Economics

Tags:: SpringSource,; Iona,; Apache

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About Software, Interrupted

In "Software, Interrupted," Dave Rosenberg discusses disruption in the software market, as well as the products and services that keep business technology norms in perpetual flux.

With nearly 15 years of technology and marketing experience spanning from Bell Labs to multiple start-up IPOs, Dave co-founded open-source software company MuleSource and now serves as general manager of Hardy Way. He also happens to be a U.S. patent holder and a workaholic. Technology is his best friend and mortal enemy.

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