Linuxcare has raised $30 million in its third funding round to fuel development and expansion of its services, support, education and certification business model.
“The Global 2000 companies are rapidly moving toward the use of Linux and open-source products,” said Tom Banahan, managing director, Lehman Brothers Venture Capital, which led the financing round. “Linuxcare continues to demonstrate the growth, innovation and technical expertise required to meet the evolving needs of open-source technology customers.”
Since its second round of equity financing, in December, Linuxcare has been steadily expanding its service offerings. The third-round financing will be used for working capital and continued expansion of the company’s solution offerings.
With this funding round, corporate partners Dell Ventures, the strategic investment arm of Dell Computer, Motorola and Sun Microsystems all increased their existing investments. Itochu International the North American subsidiary of Itochu Corp. – the tenth largest company in the world – has signed on as one of the newest corporate investors.
Linuxcare’s venture firm partners, Kleiner Perkins Caufield & Byers and Patricof & Co., are joined in this round by Charter Growth Capital and an affiliated entity of Sands Brothers, in addition to Lehman Brothers.