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Software company wins venture backing, moves to Portland, Oregon

June 24, 2009 /

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The MDT Disadvantaged Business Enterprise (DBE) Program encourages and supports the participation of companies owned and controlled by socially and economically disadvantaged individuals in transportation contracts.

Reductive Labs http://reductivelabs.com/ , a startup behind open source software called Puppet, said this morning that it has won $2 million in venture funding and will move to Portland. Currently, the company’s three person staff is split between Tennessee and Utah.

The Series A funding comes from a Silicon Valley firm called True Ventures and other private investors.

by Mike Rogoway, The Oregonian

Full Story: http://www.oregonlive.com/business/index.ssf/2009/06/software_company_wins_venture.html

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