Open Source SIG: Open Source Venture Funding



  • Topic: Successful Open Source Venture Funding

    -Kevin Efrusy, General Partner, Accel 
    -David Lilly, Founder and Chief Executive Officer, GroundWork

    -Prashant Shah, Managing Director, Hummer Winblad

    -Andrew Aitken – Olliance Group
    -Susanna Kass – Independent Adviser

    Open Source venture funding is at an all time high.  Learn what it takes to successfully fund your open source business and hear what it’s like to actually get funded.

    Topics will include a primer on open source venture funding, a look at open source funding market trends and valuations, strategies for packaging your open source business proposition to venture capitalists and real world stories from venture capitalists and the business leaders they’ve funded.

    The format for these well-timed subjects will be both presentation and open forum so everyone will have a chance to participate, ask questions and provide answers. This is a wonderful opportunity to get expert insight on one of the most important aspects of successful open source…funding.

    Andrew and Susanna will be facilitating this venture funding panel. Bring a colleague who will benefit from this collective experience.  Networking is a valuable part of these meetings so make sure you stay after the presentations to exchange ideas with your colleagues.

    Presenters Bios:

    Kevin Efrusy
    Kevin came to Accel in 2003 and serves as a General Partner. His background is primarily as an entrepreneur and operating executive. He served two stints as an Entrepreneur-In-Residence at Kleiner Perkins Caufield and Byers where he started Corio, an ASP/SaaS pioneer which went public on Nasdaq and was acquired by IBM in 2005. Later he served as the first CEO of IronPlanet, an online marketplace for heavy equipment with current annual gross sales over $200M. Prior to KPCB, Kevin served as a product manager at Zip2 and a consultant at Bain & Company.

    Kevin focuses primarily on two areas for investment: consumer internet services and saas/open source software. Within consumer services, he co-led Accel?s investment in Facebook and led Accel's investments in Metacafe, Medio Systems, Mig33, Tumri, and EveryZing, Within saas/open source software, he led investments or serves on the boards of Xensource (acquired by Citrix), Genius, Hyperic, Terracotta, and Aptana. He also currently serves on the board of BBN Technologies, and is actively involved in Riverbed Technology and Transera. Kevin has an MSEE, BSEE, and BA in Economics all from Stanford University, and an MBA from the Stanford Graduate School of Business where he was an Arjay Miller scholar.

    David Lilly, Founder and Chief Executive Officer

    David Lilly is Co-Founder and CEO of GroundWork, bringing more than 30 years of engineering and management experience. Prior to founding GroundWork, Lilly co-founded SiteROCK, a provider of remote monitoring and IT management services, and CapTech Partners, a company formed to provide seed capital and consulting to promising technology ventures. Previously, Lilly co-founded software companies concerned with supply chain optimization, image processing, and industrial automation.

    Lilly began his career in the United States Navy, where he qualified as Chief Engineer for naval nuclear propulsion plants. He also led two emergency engineering teams at Three Mile Island.

    Lilly holds an MBA from Rutgers University and a B.S. in International Relations from the United States Naval Academy.


    Prashant Shah
    Prashant Shah, Managing Director, joined Hummer Winblad in December 2000. He has been instrumental in many investments including Baynote, Bridgestream, Cenzic, InMage, Jareva Technologies, Krillion, Scalent, SyncVoice, Tizor and Voltage Security. He also observes a number of these boards. In addition, Prashant is an active Charter Member of TiE Silicon Valley (, where he is Chair of the Software SIG; and a member of the Board of Trustees for Astia (

    Prior to Hummer Winblad, Prashant spent many years defining and launching high tech products. His background spans all seven layers of the OSI stack with product management roles at enCommerce (acquired by Entrust), Cypress Semiconductor and AT&T. Prashant received a BS in Electrical Engineering from the University of Illinois at Urbana-Champaign, and an MBA from the University of Chicago.

    Event Logistics

    DLA Piper Rudnick Gray Cary LLP.
    2000 University Avenue (note: These are the tall buildings on the corner of University Ave. and Woodland, west of  Hwy. 101)
    East Palo Alto, CA 94303


    6:30 - 7:00 p.m. Registration/Networking

    Note: Catered wine and appetizers brought to you by our sponsors Olliance Group and Palamida

    7:00 - 8:30 p.m. Presentation


    $15.00 for non-SDForum members

    $Free for SDForum members

    For more information visit: