IT, Software, funding

Black Duck Raises $9.5M

Wade Roush 2/9/09

Waltham, MA-based Black Duck Software, which makes systems that help software makers track the open-source and third-party code going into their products and assure that the proper licenses are in place, said today that it has closed a $9.5 million Series D funding round. The round began in November with a $3 million first tranche; the second tranche, announced today, included a $2 million equity investment and $4.5 million in venture debt. The venture funders included existing investors Intel Capital, Fidelity Ventures, Flagship Ventures, Focus Ventures, General Catalyst, SAP Ventures, and Red Hat, and the venture debt came from Gold Hill Capital. Black Duck says the funds will go toward product enhancements and international expansion.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.