ATEL Ventures Completes $4 Million Financing for Cloud Operations Leader, OpSource

SAN FRANCISCO--(BUSINESS WIRE)--ATEL Ventures, a provider of secured financing to emerging growth companies, today announced that it has provided a $4 million capital equipment financing for OpSource, the leader in Cloud operations, to help the company grow its existing business and develop new markets, including the enterprise Cloud space.

“OpSource is a respected company in Silicon Valley and beyond, noted for its exceptional solutions for and leadership position in the Software-as-a-Service arena,” said Steven Rea, Executive Vice President, ATEL Ventures. “We’re thrilled to provide OpSource with financing to help them manage and capitalize on their next stage of growth into the lucrative Cloud marketplace.”

OpSource delivers a comprehensive, award-winning Cloud operations solution known as OpSource On-Demand™ which enables Software-as-a-Service (SaaS) and Web companies to deliver their applications and services quickly and securely over the Web to consumers and businesses alike. Going far beyond full-featured managed hosting, OpSource On-Demand includes the application management, compliance, and business services that are necessary for on-demand business success.

“The SaaS marketplace has continued to thrive, even in this downturn, and we are pleased to play a key role in our industry’s success,” said Bryant Tolles, Vice President, Finance, OpSource. “This strategic funding from ATEL Ventures will help us continue our momentum in our established space while we bring new innovations to Cloud computing.”

About OpSource

OpSource™ delivers Software-as-a-Service (SaaS) and Web applications for on-demand companies, with hundreds of applications, millions of users and billions of transactions supported daily. OpSource On-Demand™, the leading Web operations solution, is defining how Web-based software is delivered. For more information about OpSource, visit opsource.net.

About ATEL Ventures

ATEL Capital Group formed ATEL Ventures, Inc. to provide working capital and equipment financing term loans to emerging growth companies in information technology, life sciences, specialty retail and alternative energy. Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private and closely held independent leasing company in the United States, with approximately $2 billion in asset-secured transactions under management. For more information contact Steven Rea 415-616-3436, or visit the website at www.atel.com/venture.