Magento Raises $22.5 Million For Open Source E-Commerce Platform

Posted Mar 16, 2010

Magento has raised $22.5 million according to a regulatory filing.  Magento is an open source e-commerce software platform.  Magento has about 60,000 merchants using their software.  Magento was downloaded about 1.5 million times.  The company said that they have registered over $15 billion in transactions thus far too. [TechCrunch]