"Our investment in Alfresco reflects our belief that open source alternatives to traditional proprietary software, at all levels of the stack, are gaining momentum rapidly," said Robin Vasan of Mayfield Fund. "We are confident that the Alfresco team and solution will disrupt the current Enterprise Content Management market, similar to the way in which our open source company IT Groundwork has re-defined systems management."
“The company could become the de facto name at the open source CMS layer, much as Red Hat did at the operating system, Apache at Web server and increasingly, JBoss is becoming with the middleware stack.”
"2005 was a landmark year for open source, moving it from the realm of the technical evangelist to the CIO and from infrastructure to application level," said Kevin Comolli of Accel. "We see a complementary synergy between Alfresco and our existing open source infrastructure investments such as JBoss with the opportunity for customers to deploy a combination of the products."
"The popularity of Alfresco has greatly exceeded our initial estimates," said John Powell, CEO Alfresco. "With their track record of building many of the industry's most successful companies, Mayfield and Accel will be invaluable partners. We are delighted that they have chosen to enable us to accelerate our plan and make Open Source Enterprise Content Management the new safe choice for enterprises."
2005 was a tremendously successful year for Alfresco. The product was launched on October 31st that year and by December had been downloaded over 100,000 times, whilst simultaneously being endorsed by numerous enterprise customer deployments. Alfresco was named as one of the winners in the annual EContent 100 awards - a list of companies that matter most in the digital content industry - for content management and also for intranets and portals. Other winners included such names as Google, EMC and Microsoft. Leading analyst firm The 451 Group encapsulated the opportunity for Alfresco as - "The company could become the de facto name at the open source CMS layer, much as Red Hat did at the operating system, Apache at Web server and increasingly, JBoss is becoming with the middleware stack."
Robin Vasan will join the Alfresco board. He currently serves on the boards of Akimbi, Centrify, Elemental Security, GroundWork Open Source Solutions, and True Demand as well as leading the firms investment in Webroot. Prior to joining Mayfield in 1999, Vasan was a founder and/or key member of several successful software start-ups including: CATS Software, Infinity Financial Technology, acquired by SunGard (SDS) and Risk Management Solutions.
About Mayfield Fund
Mayfield Fund provides "venture capital with impact" by partnering with exceptional individuals to create industry-leading companies. Mayfield has domain expertise in consumer Internet technology, communications/mobility and enterprise software. The firm has $2.4 billion under management and a team of twelve investing professionals. Since Mayfield's founding in 1969, the firm has invested in more than 460 high-growth, technology companies, and taken over 100 public. For more information, please visit www.mayfield.com or contact: Kamini Ramani, email@example.com, 415-806-9849.
About Accel Partners
Founded in 1983, Accel Partners has a history of excellence and innovation in the venture capital business. The firm is dedicated to partnering with outstanding management teams to build world-class Internet, software and networking companies. With over $3 billion under management, Accel Partners has a long legacy of helping entrepreneurs build highly successful companies. Accel portfolio companies have completed IPOs that have created well over $100 billion in market capitalization. Accel has a history of backing category-defining companies, which include Actuate, Agile Software, AMCC, Arrowpoint, Foundry, Macromedia, Portal, Polycom/PictureTel, Uunet, Veritas, and Real Networks. For more information, visit the Accel Partners Web site at www.accel.com.
Alfresco is the leading open source alternative for enterprise content management. It is the first company to bring the power of open source to the enterprise content management market, enabling unprecedented scale and a much lower total cost of ownership than proprietary systems. Founded by a team of content management veterans that includes the co-founder of Documentum, John Newton and former COO of Business Objects, John Powell. Alfresco is based in London. For more information, visit www.alfresco.com.