34% Year-Over-Year Growth Fueled by New License Sales, Existing Customer Expansion; Customer Base Tops 1,000 with Addition of 1st Holdings, Dyn, Hortonworks & Pentaho
BURLINGTON, Mass., January 17, 2012 – Black Duck Software, the leader in open source software knowledge, adoption and governance, today announced record 2011 results, extending its rapid growth and market leadership. The company, which has achieved growth in excess of 30 percent since 2008, achieved 34 percent year-over-year growth in 2011, fueled by increased demand for solutions which provide management and governance for customers deploying open source software. Exceptionally strong growth occurred in the Asia-Pacific region, the result of early investment by the company in sales, partnerships and development of a strong support infrastructure.
Black Duck’s success comes despite the challenging economic environment, pointing to the strength of enterprise demand for solutions to provide management and governance of open source within the software development process. The Black Duck® Suite, the company’s flagship enterprise solution, enables enterprise adoption of open source in conjunction with internally developed and third party code, which leading companies use to speed innovation, improve operational efficiency, and increase competitive advantage.
“Organizations rely on complex sourcing for innovative software delivery, and use of open source software has increased dramatically in the wake of economic volatility," said Melinda Ballou, program director for IDC's Application Lifecycle Management and Executive Strategies service. "Management and governance are key for companies seeking adaptive software use and reuse in this context, since OSS increasingly dominates agile software creation and platforms for emerging areas such as mobile and Big Data.”
Black Duck Software 2011 milestones included:
- The addition of 240 new customers, bringing the company’s total to 1,000 global customers. New customers in the fourth quarter of 2011 include 1st Holdings, Inc., Dyn, Hortonworks and Pentaho.
- Black Duck closed a $12M round of financing, led by new investor Split Rock Partners, with participation from existing investors. The company, which has been cash-flow positive since 2009, is using the funds to accelerate growth, advance key development projects, continue acquisitions and expand its global presence.
- Black Duck announced significant enhancements to its Code Sight 2.0 code search engine, dramatically boosting code search productivity for individual developers and global enterprise development organizations.
- Black Duck launched two free educational initiatives: the Open Source Delivers blog and the Open Source Resource Center.
- The Open Source Delivers blog focuses on the value open source brings to enterprises and communities, particularly around the adoption and enablement of OSS. Contributors in 2011 included Gil Yehuda of Yahoo!, Ian Skerrett of the Eclipse Foundation, RedMonk analyst Steve O’Grady, Claus von Riegen of SAP AG, Erynn Petersen of AOL and Robert Blasi, Esq. of Goodwin Procter, among others.
- The Open Source Resource Center, an educational initiative for those interested in learning more about open source, includes a glossary of open source software terms, information about webinars and events, as well as a list of open source resources.
- Black Duck was named to Software Magazine’s Software 500 for the third consecutive year. The list recognizes the 500 largest software companies in the world.
- The company launched the Black Duck University Training & Certification program, providing online courses to help users of the Black Duck® Suite™ learn to manage OSS, encourage innovation, increase development speed and ensure compliance. F
- Black Duck announced support for SPDX™ Version 1.0, an open source standard under development by the SPDX Working Group of the Linux Foundation, which Black Duck co-chairs.
“This past year was strong for Black Duck and 2012 promises to be equally successful,” said Tim Yeaton, Black Duck Software president and CEO. “The funding we received from Split Rock in 2011 will allow us to significantly accelerate organic growth as we invest in expanding our product and services offerings, and invest in sales and marketing to bring these offerings to a broader set of markets. This funding will also enable us to consider additional acquisitions and to invest in international expansion as we work to drive our growth in 2012 and beyond. In 2011, we expanded our workforce by 43, and expect to add an additional 61 people to our team in 2012.”
About Black Duck Software
Black Duck Software is the leading provider of strategy, products and services for automating the management, governance and secure use of free and open source software (FOSS), at enterprise scale, in a multi-source development process. Black Duck® powers Koders.com, the industry’s leading code search engine for open source; Ohloh.net, the largest FOSS community and free public directory of open source, and The Olliance Group, the leading open source business and strategy consulting firm. Among the 400 largest software companies in the world, according to Softwaremag.com, the company is headquartered near Boston and has offices in San Mateo, London, Paris, Frankfurt, Hong Kong, Tokyo and Beijing.
Black Duck Software