Wednesday, September 6th, 2006

Laszlo Systems Raises Additional Venture Funding

Category: Business

>Ajax is so hot that a company that doesn’t even do Ajax but instead gives away an open source Flash-based application platform for free, can raise additional venture capital funding as an Ajax application tool vendor.

Laszlo Systems, the original developer of OpenLaszlo, the leading open source platform for building and deploying advanced Ajax applications, today announced the completion of an $8 million Series C round of funding. New investor WI Harper Group led the round, joining existing investors General Catalyst Partners, Sofinnova Ventures, Mitsui & Co. Venture Partners, and other private investors.

Laszlo will use this round of funding to expand its sales and marketing initiatives, accelerate platform and product development efforts, and further strategic partner programs. Laszlo will also continue to build on the market success to date of OpenLaszlo, adopted by tens of thousands of developers and a broad range of institutions and enterprises, including over a dozen members of the Fortune 100′s largest corporations.

As a translation, “Series C” means the third round of investment. It’s an “up round,” meaning that it was more than the previous round, which was $6.25 million or $5 million depending on which press release you read. Usually an up round indicates that the investors continue to have confidence in the firm.

In all fairness, Laszlo Systems is developing support for DHTML/Ajax via their Legals Project, which has been slow moving since the release of a demo of their Ajax runtime back in March. They recently released PR3 of Legals. Before you go and download it, note that they have not yet brought up the widget toolkit, so there isn’t much to see. Wait for the beta release in early October.

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Posted by Dietrich Kappe at 11:31 am
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Not that it matters to most ajaxian readers, but to be precise, “up round” and “down round” refer to whether the valuation went up between rounds, not the amount raised. E.g., they could have raised $2M in the series C at a higher valuation than the Series B and it would still be an “up round”.

Comment by Dan G — September 6, 2006

Dan G,

thanks for the correction.

Comment by Dietrich Kappe — September 6, 2006

Really, the Laszlo/OpenLaszlo platform has been all about “asynchronous javascript + xml” for years — well before work began on the DHTML runtime.

(disclaimer: i work @ laszlo systems)

Comment by gse — September 7, 2006

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