November 25, 2008 — (WEB HOST INDUSTRY REVIEW) — Open source web application framework DotNetNuke Corporation (www.dotnetnuke.com) announced on Tuesday that it has secured Series A financing from venture firms, August Capital (www.augustcap.com) and Sierra Ventures (www.sierraventures.com).
Further illustrating the demand for the DotNetNuke platform, earlier this month, Power DNN, a hosting provider of DotNetNuke announced it will more than double its hosting capacity in business continuity and managed services provider CoSentry’s Tier IV data center in Omaha, Nebraska.
The financing will enable the open source provider to accelerate product development and expand marketing, sales and support infrastructure to meet the growing enterprise demand for DotNetNuke products and services.
DotNetNuke is an open source web application framework designed for creating, deploying and managing interactive web, intranet and extranet sites.
The organization has experienced significant growth in the past couple years with a community of over 630,000 registered users.
The level of adoption of DotNetNuke products continues to increase among professionals in small, medium and enterprise Microsoft environments, with downloads of more than 5.6 million times to date.
“This initial funding comes at a key juncture for DotNetNuke Corporation, as the use of DotNetNuke continues to accelerate and we must scale to meet the needs of our rapidly growing community and ecosystem,” says Shaun Walker, chief architect of DotNetNuke and original creator of DotNetNuke. “With an impressive track record of growing early stage companies into market leaders, August Capital and Sierra Ventures represent valuable partners and resources for DotNetNuke Corporation. We look forward to working closely with these firms to build on our past success and strengthen our position in the Microsoft ecosystem.”
