SaaS Week

OpSource announced today that it has received $20 million in investment capital, venture leasing, and credit lines, led by Intel Capital, the venture capital arm of Intel Corporation, and others. The company will use the funds to further develop its Optimal On-Demand SaaS delivery platform. "We recognize OpSource's success in providing the necessary operational infrastructure and support services that enable budding software companies to grow and flourish," said Jon Kruse, Investment Manager, Intel Capital. "With the Optimal On-Demand delivery platform, OpSource is in a unique position to accelerate its growth leadership in the quickly evolving SaaS market space." OpSource has also garnered the additional financial support of its existing venture partners, including ComVentures, Artiman Ventures, and Key Venture Partners. "OpSource continually strives for excellence and has solidified the market position of its Optimal On-Demand platform," said Roland Van der Meer, a ComVentures co-founder and the newest member of OpSource's board of directors. "We are pleased to be part of that evolution and are confident that OpSource is poised to meet the future with similar success." The company, which is nearly four years old, has also won backing from additional leading venture capital firms and financial institutions. Western Technology Investment (WTI), a leading provider of debt financing to start-up and emerging growth companies, is providing venture leasing funds for equipment costs, while Silicon Valley Bank has extended an additional line of credit to the company. "In the Optimal On-Demand Platform, we have answered the market demand for a turnkey, scalable delivery system to become the leading SaaS enablement and delivery platform," said Treb Ryan, OpSource CEO. "We will continue to drive innovation in SaaS delivery while extending our leadership in this market by broadening our offerings into new application areas."