"This funding round will help us achieve our operational goals while introducing innovative solutions in the Cloud computing space," said Treb Ryan, CEO of OpSource. "The market has truly embraced the great scalability and efficiency that SaaS solutions bring, and we are proud to be the company that both emerging companies and enterprises rely on for billions of transactions every day," he added.

He was speaking as the company today announced that it has received $10 million in series "E" investment capital from Nippon Telegraph and Telephone Corporation, with whom OpSource entered a strategic partnership in November 2008, as well as from returning investors. "As the demand for SaaS and Cloud solutions continues to grow, OpSource is in a unique position to

lead this marketplace while accelerating its own growth. We are pleased to back such a vibrant company,' said Gary Hromadko, Venture Partner, Crosslink Capital, a returning investor. "OpSource is a proven leader in the SaaS space, and is continuing to flourish and innovate in this challenging economic environment, as evidenced by their EBIDTA-positive status as of December 2008," Hromadko continued.

OpSource, which is six years old, has also garnered the additional financial support of other existing venture partners, including Velocity Venture Capital, Key Venture Partners and Artiman Ventures.

The company will use the funds to further develop its existing Software-as-a-Service (SaaS) offerings as well as to pursue other key initiatives in the Cloud computing space.

Ulitzer.com to launch OpSource Cloud Journal at http://opsource.ulitzer.com.  

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