NewSpring Capital Leads $4mm Investment in Bluenog

NewSpring Capital, of Radnor, PA and Short Hills, NJ, announced today that NewSpring Ventures, the dedicated growth and expansion stage venture fund of the NewSpring Capital fund family, led a $4 million growth financing of Bluenog Corp. Bluenog, based in Piscataway, NJ is a software and solutions company that provides integrated solutions consisting of both commercial and open source Application Infrastructure Software (AIS). The Company’s focus is on enterprise infrastructure software such as Portal Servers, Enterprise Content Management and Business Intelligence. Bluenog plans to use the proceeds to provide the necessary working capital to execute the Company’s growth strategy.

Founded in 2006 and previously self-funded by the principals, Bluenog’s software platform paves the way to bring full featured enterprise applications to IT organizations in an affordable way through the utilization of leading open source projects. The platform is built using industry standards while also integrating with today’s leading commercial vendors, giving customers choice in determining which products to use and blend together into a composite framework. Bluenog supplements its software platform sales by offering strategic consulting, custom solution development and the resale of commercial software from established vendors such as Actuate, BEA Systems and Compuware.

“Bluenog has experienced explosive growth, and the partnership with NewSpring will propel us to greater heights,” said Bluenog CEO, Kuppusamy Suresh. “The funding will be utilized to bolster Bluenog’s Platform offering and establish Bluenog as a leading provider of Application Infrastructure Software. NewSpring’s experience in providing growth financing will be a great asset to Bluenog, and we are very excited at the prospect of working together.”

“Bluenog is at the forefront of integrating open source code base into commercial applications and provides mid-market companies access to full featured commercial applications at an affordable price,” said Michael Poisel, Principal of NewSpring Capital. “The Bluenog team has successfully built their business by supplementing its software platform revenue through reselling software and providing consultative services. This entrepreneurial approach has allowed Bluenog to bring its products to market without previously raising any external investment capital.”

As part of the growth financing, Michael DiPiano and Michael Poisel of NewSpring Capital will join the Bluenog Board of Directors.

About Bluenog Corp.
Bluenog Corp., headquartered in Piscataway, NJ, is a software and solutions Company that provides commercial, integrated solutions built on open source Application Infrastructure Software (AIS). Bluenog saves organizations time and money by providing pre-integrated products and solutions that blend open source and commercial technologies together. The Company’s focus is on enterprise infrastructure software including Portal Servers, Enterprise Content Management and Business Intelligence. Bluenog’s open source platform is pluggable with leading commercial stacks, and can also be run stand-alone. For more information, visit www.bluenog.com.