Business process management software purveyor BonitaSoft, known for its open-source approach to BPM, announced today that it has secured $11 million in venture funding to accelerate its business plan.
The Series B round was led by Serena Capital and joined by BonitaSoft’s existing backers, Ventech and Auriga Partners. The company will apply the funds to further develop its business process management suite, the Bonita Open Solution, and to expand internationally.
In a statement, CEO Miguel Valdes Faura declared that upstart BonitaSoft has made inroads in the BPM software market, which is dominated by purveyors of proprietary BPM offerings, including IBM, Pegasystems, Oracle, and TIBCO.
The company was founded in 2009 and claims 800,000 downloads of its free, open-source BPM software, including 180 paying customers. Bonita Open Solution features a business process modeling studio, a business process management engine that facilitates interactions among IT systems and applications, and a user interface that allows customers to interact with the processes they’ve designed.