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Enterprise Software - Monday, April 30, 2007

Open Source DevZuz Gets $9.25M. Sells LogicBlaze

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Marina Del Rey-based DevZuz has won $9.25M from Mission Ventures and Redpoint. The startup was formerly known as Simula Labs, which invested in a variety of open source projects. DevZuz said it is selling its interest, including technology, intellectual property and customers, in one of its portfolio companies - LogicBlaze to IONA Technologies.

DevZuz is offering tooling, libraries, and a community-based portal for serving open source projects. The company plans to make money via consulting, and service/support subscriptions. The company is led by Winston Damarillo who was a VC with Intel, before founding early open-source software startup Gluecode Software, which was bought by IBM.

Read - The First Open Source VC Firm (the a:c)

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