Lutris Technologies Secures $16 Million Funding Round for Open Source Enterprise Software

Strategic Insights -

Lutris Technologies, an Open Source enterprise software and services company, has completed a $16 million funding round led by Chase Capital Partners and Intel 64 Fund. The investment will help further the adoption of Lutris Enhydra, an Open Source Internet application server, among corporate users and support the development of wireless and Java/XML capabilities. New investors in the round include Compaq Computer Corporation, NEC, and Deutsche Banc Alex. Brown. Lutris intends to expand its product and services availability in key global markets, particularly in Japan, where NEC plans to deliver Lutris products and services.

Key Takeaways:

  • Lutris Technologies has completed a $16 million funding round led by Chase Capital Partners and Intel 64 Fund, with new investors Compaq Computer Corporation, NEC, and Deutsche Banc Alex. Brown.
  • The investment will be used to accelerate the adoption of Lutris Enhydra, an Open Source Internet application server, among corporate users and support the development of wireless and Java/XML capabilities.
  • Lutris Enhydra will become a member of the Compaq Solutions Alliance (CSA) and establish Compaq ProLiant servers as the reference platform for Lutris Enhydra.
  • The companies plan to work together to deliver leading, cost-effective Web and wireless solutions to customers interested in harnessing the power of Open Source.
  • Steve Garone, program vice president - application development and deployment at IDC, comments that the investment is a vote of confidence in Lutris Technologies' ability to build a successful and sustainable business on an Open Source model.
  • The interest paid to Lutris Technologies by the investment community highlights the potential of Open Source enterprise software and services.

Statistics:

  • The $16 million funding round is the first phase of Lutris Technologies' Series C round of financing.
  • The company plans to use the investment to further the adoption of Lutris Enhydra among corporate users.
  • Compaq ProLiant servers will become the reference platform for Lutris Enhydra.
  • Lutris Technologies intends to expand its product and services availability in key global markets, particularly in Japan.
  • NEC plans to deliver Lutris products and services in Japan.

Sources:

  • Lutris Technologies, Inc.
  • Compaq Computer Corporation (NYSE: CPQ)
  • NEC (FTSE: 6701q.l, NASDAQ: NIPNY)
  • Deutsche Banc Alex. Brown
  • Intel 64 Fund
  • Chase Capital Partners
  • IDC (Framingham, Mass.)
  • NEC Solutions, NEC Networks, NEC Electron Devices
  • Chase H&Q (Formerly Hambrecht & Quist)
  • Intel Corporation
  • Morgan Stanley Dean Witter
  • Deutsche Bank AG