OStatic

The 451 Group is out with a new report on venture capital funding for open source, and the news is rosy. The first quarter of this year brought more venture capital funding for open source than ever before, totaling $203.75 million, up from $100.4 million in the same quarter for 2007. The beneficiaries included well-known players such as Automattic and SugarCRM. There was more than a double for year-over-year fudning growth, although the news immediately follows a plunge in VC funding for open source that arrived in the fourth quarter of last year. The report also includes some good analysis of how VC funds are flowing to the open source community.