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Optaros Closes $13 Million in Series B Financing Led by Globespan Capital

Boston, MA – November 20, 2006

Optaros Inc., an open source software consulting and integration firm that provides enterprises with online platforms and business solutions for the next generation of the Internet, today announced that it has closed $13 million in Series B funding. Globespan Capital led the round with participation from existing investors, Charles River Ventures and General Catalyst Partners. Optaros will use this round of funding to expand delivery capabilities for clients and grow global operations.

Optaros provides enterprises with assembled next-generation Internet applications that maximize the benefits of open source software and deliver on the relevant business benefits. Optaros leverages its knowledge of open source components and its application assembly methodology, OptAM, to assemble NGI solutions that solve specific business problems in a “best-fit” solution approach.

Additionally, Optaros announced that Ullas Naik, managing director, Globespan Capital Partners, has joined Optaros’ board of directors, which includes: Izhar Armony, Charles River Ventures; Bill Atkins, formerly of Deloitte Consulting; Larry Begley, .406 Ventures; Larry Bohn, General Catalyst Partners; and Ernie von Simson, Ostriker von Simson, Inc.

“Optaros has demonstrated through its client projects to-date that its delivery model, global talent, and leadership in the open source software space is a successful recipe for clients looking to build applications that are agile, cost effective, and quick to respond to changing needs,” said Ullas Naik, managing director, Globespan Capital Partners. “We believe that there is a strong and growing need for these types of applications and Optaros is well suited to lead in this market.”

“We are excited to add Ullas Naik and Globespan Capital’s expertise in global growth to the Optaros team,” said Bob Gett, President and CEO of Optaros. “This investment is important for not only Optaros but also our clients, as we scale our ability to provide solutions through initiatives such as new development centers and expansion around the globe.”

 
About Optaros
Optaros is a consulting and systems integration firm that helps enterprises solve IT business problems by providing services and solutions that maximize the benefits of open source software. Bringing together experts in creating enterprise IT solutions and experts in the power of open source, Optaros plans and builds business systems that give you better value today and increased control in the future. For more about Optaros, go to www.optaros.com