12 April 2010, 13:54

Report: Open source bounces back from 2009

The 451 Group logo The 451 Group's Matthew Aslett reports that venture capital funding for open source vendors is already up almost 38% in the first quarter of 2010. That comes on the back of last weeks report that in 2009, funding from VCs had dropped by 37%. According to the report, the preliminary figures show that funding in the first quarter of 2010 grew 37.9%.

The return to growth began at the end of 2009 and, the report says that this is the second consecutive quarter of growth. It does caution that a significant part of the funding came from one deal; Of the $89.1 million in funding, $22.5 million is the result of an equity deal by open source e-commerce vendor Magento. It also notes that despite the return to growth, VC funding is still "well down on 2008".

The full report, Open to Investment 2010, which includes detailed analysis of all the deals in 2009 and includes analysis of the first quarter of 2010, costs $3,750.00.

(djwm)

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