Magnolia

DotNetNuke Corp. Lands $8 Million Series B Funding

By Mike Johnston February 9, 2010 News & 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


Tags: traction 1 Capital 2 Million 1 cms 866 microsoft 22 dotnetnuke 27 wcm 727 Management 112

Mike Johnston

Mike Johnston Author

I am the guy behind CMS Critic. I started it back in 2006 and we've been going strong ever since. When not traveling to conferences, I am based out of Edmonton, Alberta, Canada where I live with my beautiful wife and kids.

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