Palamida Gets More Funding

The intellectual property management and compliance technology provider announces a new round of funding and discloses key customers.

Palamida, a provider of software intellectual property management and compliance products and services, has announced a new round of venture capital financing and listed some of its major customers.

The San Francisco-based company on June 12 announced that it has raised $8 million in its second round of venture capital financing. The Series B funding, which was led by Mitsui & Co. Venture Partners, includes Series A investors Hummer Winblad Venture Partners and WaldenVC , Palamida officials said.

Palamida, which previously held key customer information close to its vest, also announced some of its customers: Avaya, Cisco Systems, EMC, Microsoft and Sun Microsystems, among others.

Palamidas products use multipattern search technology and other methods to comb through billions of software fingerprints to accurately detect and report on the content of software products, the company said.

Earlier this year, Palamida expanded its Compliance Library, which is a key part of the companys IP Amplifier software. Palamida IP Amplifier helps companies adopt open-source projects into their applications by going through code and providing visibility into the third-party components and associated licenses within their code bases, the company said.

In February, Palamida expanded the breadth of its Compliance Library from supporting 3 billion to more than 5 billion recorded source code fingerprints or identifying markers for source code snippets, the company said.

Mark Tolliver, Palamidas chief executive, said in a statement about the new funding: "The international reach and reputation that Mitsui & Co. Venture Partners brings to Palamida will be invaluable as we expand worldwide, and we are very pleased that they are joining our existing investors. The world of software development has changed, and todays software projects contain contributions from many sources, including open source. This mixed code model demands increased attention to issues of intellectual property integrity, security and governance, and has created an exciting opportunity to help our customers ensure that their software assets are visible, traceable and manageable."

Palamida officials said the new investment follows a Series A funding of $5 million in December 2004, bringing the total capital raised to $13 million. In addition to Hummer Winblad Venture Partners and WaldenVC, Stanford University was a Series A investor.


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