Open-Xchange (OX), a Germany-based email, productivity and security software producer backed by internet services provider United Internet, raised €21m ($24.9m) in funding yesterday.
The capital was provided by venture capital firms Iris Capital and eCapital Entrepreneurial Partners, and undisclosed additional investors. The company received $5.2m in funding from eCapital in December 2016 but it is unclear if that investment formed part of the latest round.
OX has created open source software for enterprises in the web hosting, service provider and telecommunications space that includes communication, collaboration and productivity tools.
The proceeds will fund recruitment, though OX did not specify how many staff it plans to add to its 250-strong team, as well as the introduction of additional features, such as the ability to filter malicious traffic and email advertising.
The company hopes the cash will also enable it to attract new clients in the North America, Latin America and Asia Pacific regions, and help it strengthen relationships with existing partners.
United Internet Ventures, the corporate venturing division of United Internet, joined private investor Hermann-Josef Lamberti and unnamed, existing investors to provide $20m in series C funding for OX in 2013.
The series C round came after eCapital participated in the company’s $9m series B round in 2008 alongside BayTech Venture Capital and BayBG, the investment arm of Bavaria state-owned economic development bank LfA Förderbank Bayern.
BayTech and assorted angel investors had previously supplied $8.8m of series A capital for OX two years earlier.