Black Duck Raises $9.5 Million in Venture Capital, Debt - Waltham, MA
Black Duck Software, a Waltham-based provider of products and services for accelerating software development, announced on Monday that it has raised $9.5 million, including $5 million of equity investment from current investors General Catalyst Partners, Fidelity Ventures, Flagship Ventures, Focus Ventures, Intel Capital, SAP Ventures and Red Hat. The company has also raised $4.5 million of venture debt financing from Gold Hill Capital. Black Duck said it will use the funds to support continued growth, enhance products and expand its international distribution capabilities. The company said the financing comes on the heels of a strong 2008 performance, in which it posted growth of 42% in year-over-year bookings and subscription and services growth of 65%.