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Black Duck Gets More Money, New CEO
Black Duck inherits $9.5M and new CEO, Tim Yeaton
By: Maureen O'Gara
Feb. 13, 2009 07:00 PM
Black Duck Software, the open source tracking start-up, took in $9.5 million in new money on Monday, and then on Tuesday it got a new CEO, Tim Yeaton, once senior VP of worldwide marketing at Red Hat, an architect of its JBoss acquisition, and more recently chief marketing officer of EqualLogic until Dell bought the joint last year and made him VP of its Nashua Design Center.
Coincidently Red Hat is an investor in Black Duck and was party to the latest round as well as a $12 million round before it.
This time, though, Black Duck got $5 million in equity financing from Intel, SAP, General Catalyst Partners, Fidelity Ventures, Flagship Ventures and Focus Ventures as well as Red Hat and $4.5 million in debt financing from Gold Hill Capital.
That means it has seen $34 million in equity capital all told since it got started in 2002.
Yeaton intends to use the new money to expand internationally and tie up with open source firms.
Black Duck founder Doug Levin, Yeaton's predecessor, will remain on the board.
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