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Qlusters raises $10m, loses $11m
July 31, 2007

You win some, you lose some. Open source systems management software vendor Qlusters has announced that it has raised $10.36m in Series C funding.

Nothing unusual there, apart from the fact that the company also announced that it “has raised approximately $23 million in total VC funding since the company was founded in 2001” which is clearly incorrect, not least because the company raised $16m in April 2004.

At the time Globes reported (and investor Benchmark reprinted) that the company had “raised $7.75 million to date in two financing rounds, the last in July 2002.”

A posting to Linux.com from founder Moshe Bar indicates that $6.15m of that was raised in July 2002, while this newsletter from November 2001 pins down $1.5m in seed funding (I guess you could put the $0.1m down to rounding and currency conversion).

Call me old fashioned, but I make that a total of $34.11m.

UPDATE The total raised to date is indeed more like $34m. The $23m related to the amount raised before the latest round and was a slight mistake on Qlusters' part. UPDATE


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Posted by Matthew Aslett on July 31, 2007 03:02 PM

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