Saturday, August 12, 2006

Digium $13.8 million in Venture Capital

On Wednesday, Digium closed an initial $13.8 million round of funding from venture capitalist Matrix Partners. Open source mavens may recognize the name; Matrix was one of the backers of the open source application server JBoss, which in April was sold to Red Hat (Nasdaq: RHAT) for more than $400 million.

Matrix General Partner David Skok told Venture Wire in an interview that Digium's Asterisk telephony technology "has the potential to be sold to every company in the world." Okay, then.

Interestingly, Digium founder and CEO Mark Spencer said in announcing the deal that the company didn't need the funding. Instead, says Spencer, Digium sought Matrix's expertise to help grow the business globally. That seems fair, given Matrix's success with JBoss. But it's also hard to see how Digium could do much better than it already is. Referring back to the press release, Digium says that it has been profitable since 2002 and has grown by 100% for the "last several years." What's more, there are currently 1 million Asterisk users and each day brings another 1,000 new downloads of the software.


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