Burlington, Mass.-based Black Duck Software announced Wednesday the company has raised $20 million, in a round led by General Catalyst Partners. In addition, the opensource software logististics solution provider has appointed Stephen Gregorio as its chief financial officer and executive vice president.
Word of the round first started spreading in mid-August. Streetwise Media's own SVP Greg Gomer hinted in the BostInno Beat last month that Black Duck Software was out raising "a decent size round," which he predicted to the exact dollar amount.
All existing investors participated in the round alongside General Catalyst, including Red Hat, Split Rock Partners, Flagship Ventures and Volition Capital. The newfound financing will be used to help the company expand its global go-to-market model and advance its OSS logistics solutions across the enterprise.
Gregorio (photographed above) is reported to have played a critical role in securing the new funding, and joins Black Duck Software with more than 25 years of financial management experience at companies like the Interwise Corporation, acquired by AT&T in 2007, and the Gensym Corporation, among others. The company's new CFO will report directly to President and CEO Lou Shipley, who shared in a statement:
With this funding in place, we are well-positioned to advance OSS Logistics solutions across the enterprise. Over the next 18 months, we will release powerful new solutions aimed at solving critical supply chain and software development challenges that have resulted from the explosive growth of OSS in enterprises worldwide.
Since its founding in 2002, Black Duck Software has raised $70.5 million.
Image via fama PR
