Black Duck Software, a company specialized in helping software developers ship products based on open source software more rapidly, also known for its acquisition of open source code search engine Koders.com completed in April 2008, has announced a $9.5 million capital raise today.
The company received $4.5 million of venture debt financing from Gold Hill Capital in addition to $5 million in equity investment from its current investors General Catalyst Partners, Fidelity Ventures, Flagship Ventures, Focus Ventures, Intel Capital, SAP Ventures and Red Hat. This is their fourth round of funding; the company has now raised a total of $38.5 million in financing.
Black Duck was founded in 2002 and initially focused on selling software that helped companies deduce licensing obligations that may arise as they develop or buy open-source software (there are over 1,400 different licenses in use today). The company today does a lot more than that, offering consulting, training and customer support services next to a set of products designed to accelerate software development through the managed use of open source and third-party code.
The company says 2008 was a year of momentum, with an increase of 42% in year-over-year bookings and subscription and services growth of 65%. It now has nearly $10 million more in the bank to expand their product line and international presence.