BonitaSoft, a provider of open source business process management (BPM) software, has raised $3 million in funding from Ventech and Auriga Partners.
Based out of France, the company competes with giants in the software industry like EMC and Sun. The difference is BonitaSoft offers an open source solution in which it says the cost of acquisition and maintenance is ten times less than that of traditional BPM software providers.
BonitaSoft says the open source software for BPM is a market which currently represents $2.6 billion with a forecasted growth of 30% by 2012.
The software can mostly be found implemented across Europe at the moment, but the company is looking to follow in the footsteps of the likes of MySQL's trend, another project with open source roots. BonitaSoft believes the trend "reshuffles the deck" every day in the software industry and has what it takes to be successful internationally. One place you can find BonitaSoft is in Spain, where it is being used for production at major clients such as the Ministry of Finance and the Government of the Canary Islands.
"This funding will allow us to accelerate our development internationally as well as in France. We will be able to bring more resources to our community to make the deployment of BPM solutions equally feasible in companies regardless of their size, by providing solutions with powerful and simple-to-use features,” explains Miguel Valdes Faura, CEO of BonitaSoft and co-founder of Bonita.
