ActiveState Secures $10 Million in Funding for Open Source Software

ActiveState, a leading provider of Internet programming software and services, announced the closure of its latest round of financing, which included lead funding by NY venture capital firm Opticality Ventures, which specializes in backing open source firms. ActiveState also received strategic investments from ActiveState Board Member and Red Hat CTO Michael Tiemann; Nick Bedford, Head of German Equity Sales for the investment banking firm, Warburg, Dillon & Reid AG; and renowned members of Vancouver's high tech community. The company completed an earlier Angel investment last winter. Proceeds and expertise from the current round of financing will be used to pursue strategic near term objectives, including the expansion of ActiveState's management team, opening a Seattle office, and increased marketing and sales efforts.