Squarespace

DotNetNuke Corp. Lands $8 Million Series B Funding

By Mike Johnston February 9, 2010 Content Management System (CMS) News and Headlines  Comments

DotNetNuke Corp. (http://www.dotnetnuke.com), the company behind the most widely adopted Web Content Management Platform for Microsoft® .NET, today announced it has secured an $8 million Series B financing led by new investor UV Partners with participation from existing investors August Capital and Sierra Ventures. The new funds will be used to accelerate product development and expand marketing and sales.

The financing follows a banner year for DotNetNuke Corp., which recently announced it had signed 500 paying customers and 50 certified commercial partners following its commercial launch in February of 2009.

According to CEO, Navin Nagiah:

“DotNukeNuke had phenomenal market traction during our first year. We signed nearly 500 customers for our subscription products and closed nearly 40,000 transactions to 15,000 customers on Snowcovered.com, our online marketplace for third party add-ons. While we did not need capital given our revenue traction, we liked the partnership and the terms so we decided to close a new round. We welcome and look forward to working with UV Partners.”

To learn more about DotNetNuke or this release, please visit the DNN website at http://www.dotnetnuke.com

Stay on top of the CMS world

Sign up to get CMS Critic's weekly newsletter filled with the latest CMS Reviews, News and Views.

Tags: traction 1 Capital 2 Million 1 cms 857 microsoft 22 dotnetnuke 27 wcm 728 Management 112

Mike Johnston

Mike Johnston Author

Mike is the Editor-in-Chief and Founder of CMS Critic, he is an entrepreneur, marketer, movie lover and tech geek. 

Stay on top of the CMS world

Sign up to get CMS Critic's weekly newsletter filled with the latest CMS Reviews, News and Views.