Rivermuse Receives Funding of $1.2M from Sierra in a $4.0M Series A Financing.

January 26, 2009

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Rivermuse Receives Funding of $1.2M from Sierra in a $4.0M Series A Financing.

Rivermuse (www.rivermuse.com) founded by the original founders and inventors behind IBM Tivoli Netcool: Micromuse and Riversoft respectively. Rivermuse offers an open source enterprise Fault Management application and an Open Management Operating System that delivers similar functionality to IBM Tivoli Netcool but with lower costs of: acquisition, implementation and ownership. Rivermuse provides an open source go to market approach enables the power of the community to ensure customers of Rivermuse always receive optimum functionality in step with their requirement, safely, securely and accountably.

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Sierra Ventures has managed nine venture capital partnerships and currently has more than $1.5 billion of capital under management. Some of the firm’s investments include 360Commerce (acquired by Oracle), Active Software (acquired by WebMethods), AmeriGroup (AGP), Centex (acquired by WorldCom), AuthenTec Inc. (AUTH), ConvergeNet (acquired by Dell), FatBrain (acquired by Barnes & Noble), Frontbridge (acquired by Microsoft), Healtheon (merged with WebMD), Interact Commerce (acquired by Sage), Intuit (INTU), Micromuse (acquired by IBM), OnAssignment (ASGN), OnLink (acquired by Siebel), Quinta (acquired by Seagate), StrataCom (acquired by Cisco), Sourcefire (FIRE), Sychip (acquired by Murata Corporation), Teradata (acquired by NCR).