Web Based Collaboration Company Open-Xchange Raises $20 Million
Open-Xchange is an open source web-based communication and collaboration company that has raised $20 million in funding from United Internet, Hermann-Josef Lamberti (former Deutsche Bank COO) and other existing shareholders. Part of the funding will be used for a secondary transaction.
“Open-Xchange has the potential to disrupt the cloud market in the coming years. Its technology will change how businesses and private users will buy and consume cloud services. Open-Xchange is uniquely positioned in this market, enabling telcos, web hosters, mobile and cable operators alike to successfully compete with over-the-top giants like Apple, Amazon, Facebook, Google and Microsoft,” stated Lamberti.
The last time that Open-Xchange raised funding was in 2008. That was a $9 million Series B round. Open-Xchange launched six years ago.
Open-Xchange will be using the funding to invest in software development, professional services, international business development, marketing, and sales. The company’s revenue and user base has grown 50% year-over-year in the last 3 years. They have 75 clients that reach around 80 million end users.
Lamberti and Dr. Oliver Mauss (United Internet Ventures chief executive officer) has joined the company’s board of directors.
“Open-Xchange’s vision of becoming the web desktop for cloud services makes this one of the most exciting software investment opportunities,” stated Mauss.