Grenoble-based Bonitasoft announced last week that it has raised $13M from FSN PME, Ventech, Auriga Partners, and Serena Capital in order to continue the growth of its Open Source Business Process Management (BPM) solution for enterprises. As TechCrunch reports, the company has offices in Paris as well as San Francsico – it has raised $28 Million to date – and works with over 600 companies, including corporate finance, human resources, IT management & quality management.
Founded in 2009 by CEO Miguel Valdés-Faura, Bonitasoft’s software is 100% open source, and thus relies on a business model around add-ons and support, not dissimilar to that of WordPress’s open-souce blogging platform, which makes money on offering hosting and other support.
While BPM software isn’t the most exciting IT sector – the company works to help reduce costs within companies by automating certain processes through its software platform, such as submitting claims or verifying information submitted – however, what is particularly interesting is that it operates its software entirely open source, a decision that comes with some advantages, and some notable disadvantages (like the fact that its platform is free to use).