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September 25, 2006Intel Leads $20M Funding of OpSource's SaaS Solution
Market share and -- and investment dollars -- keep flowing toward the Software as a Service sector, and OpSource is the latest firm to benefit from both trends.
One week ago, the company received $20 million in funding from a group led by Intel Partners to expand sales, marketing and R&D.
“Intel sees that Software as a Service is changing the way that people use software and the underlying technologies. They wanted to get close to the SaaS companies and see how their product could be used more effectively for them,” Opsource CEO Treb Ryan said.
It is also rolling out SaaSTrak, which can help software companies provide new on-demand applications in as little as 72 hours. A client need only to fill out a two-page questionnaire about their business and infrastructure before receiving a custom delivery solution.
Software companies, Ryan believes,“shouldn’t focus on things like running a 24/7 secure operation -– those are the kind of things that can hold them back from focusing on what strategically differentiates them in the market,” he notes.
“Today, no one in the market is going to really give that customer the ability to go on the Web and buy a per-user-per-month or per-transaction type of delivery of their service and get moving very quickly, he added.
The questionnaire’s content and format was based on their years of working with over 80 SaaS companies to discover common elements that ensured success.
The result yields “the basic support and infrastructure and the basic support and management needs that normally you would have to spend days with a business consultant to discover,” Ryan noted.
“What we discovered in this on-demand world is that the ability to start quickly and work with a company as it’s growing is far more effective than trying to do a long business consultancy arrangement at the beginning of their lifecycle,” Ryan said.
“It’s all about getting your customers up to and started,” he maintained.
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