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Openbravo Picks Up $12m Second Round

The money is supposed to take the Pamplona-based concern international, increase its staff, and improve its web-based products
By Maureen O'Gara
Article Rating:
May 23, 2008 12:15 PM EDT
Reads:
 4,678

Two-year-old open source ERP house Openbravo has just picked up a second-round check for $12 million signed by Amadeus Capital, the publicly traded GIMV and Adara Venture Partners.

The money is supposed to take the Pamplona-based concern international, increase its staff, and improve its web-based products.

Openbravo plays mostly in the small and mid-markets, where ERP adoption is still low, ostensibly ignored by proprietary ISVs.

It plans to open offices in another mature market and an emerging one that have yet to be identified.

Openbravo currently claims several hundred active ERP deployments worldwide, according to CEO Manel Sarasa, and last October acquired an open source POS solution designed for touch screens now called Openbravo POS and available integrated with its ERP software as well as standalone. It’s experiencing 1,500 downloads a day, enough to top 500,000 and has been localized for 40 countries.

Openbravo got a $6.5 million first round from the government of Navarra’s business development fund Sodena.

Sarasa said the second round was enough to get the company to a third round in a couple of years.

Published May 23, 2008 – Reads 4,678
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More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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