10gen raises USD1.5m for open source cloud platform

US start-up 10gen is set to develop its open source cloud software after raising USD1.5 from Union Square Ventures in a first round of funding.
The company, which already offers hosting for Javascript and Ruby, says it will offer a full copy of its source code to any business. In return, customers will pay for hosting, customer service and a service-level agreement.

Cloud computing, the use of hosted storage provided by third parties, is now a rapidly growing market. Amazon and Google both offer cloud services, while other open source cloud platforms include Toronto’s Enomaly and UC Santa Barbara’s Eucalyptus.

Union Square Ventures is an early stage venture capital firm that has also invested in Del.icio.us, FeedBurner and Twitter.

Published by Reinout te Brake

Reinout is a games investor and strategic business consultant specializing in the games industry. Reinout established his credentials through his own successful investments, start-ups, consulting and (advisory) board positions that led through time to strong bonds with key stakeholders in this fast paced industry. He is known for his outstanding results in the gaming industry. He has worked with many game studios around the globe and is therefore well known in the international gaming industry. Check out his games podcast; https://www.game-consultant.com

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