Andreessen Horowitz, Matrix Partners Invest $11.2 Million in Meteor
Rod Johnson, Peter Levine and David Skok Join Meteor Advisory Dream Team; Betting on the Biggest Shift in Software Development since the Creation of the World Wide Web
SAN FRANCISCO, July 25, 2012 /PRNewswire/ -- Meteor Development Group, the company behind the Meteor open-source project, which produces a platform for building software applications, today announced $11.2 million in funding led by Andreessen Horowitz. Matrix Partners and others also participated in the Series A round. A "dream team" of enterprise technology leaders will advise the company.
Applications written with Meteor run on a user's own computer -- inside their browser or on their mobile device -- and fetch any needed data from cloud services. This is a sharp break from the model by web applications for the past 15 years, where applications run on distant web servers. Running the application on the user's computer gives a smoother, more responsive experience that is increasingly expected by consumers. Companies like Google, Facebook, and Twitter use this technique in their flagship products, but it's out of reach for most developers because it takes months of work even for a team of experts.
"We want to create the universal standard for writing this kind of application, and that will only happen through broad industry cooperation," said Meteor co-author Matt DeBergalis. "It's clear to everyone that we need something new. Will it be Meteor? What we see today is that it is open source developers who drive the technology that is ultimately adopted everywhere else in the industry. So it depends on whether the open-source community chooses to rally around Meteor."
The new funding comes in the form of a Series A investment in Meteor Development Group, a corporation controlled by Geoff Schmidt, Matt DeBergalis, and Nick Martin, the original authors of Meteor. The company will use the money to support Meteor development and grow the Meteor community, and plans to sell a complementary set of enterprise-grade operations management tools to large organizations that are using Meteor.
Rod Johnson will join the company's board. Dr. Johnson is the author of the popular open source Spring application framework and founder of SpringSource, acquired by VMware. David Skok, general partner at Matrix Partners, and Peter Levine, general partner at Andreessen Horowitz, will serve as special advisors to the company. Previously, Mr. Skok built the enterprise sales strategy for JBoss, the open source Java application, server while Mr. Levine is the former CEO of Xensource, which was acquired by Citrix Systems.
"Rod, David, and Peter are our dream team," explained Mr. Schmidt. "They know more than anyone else about building open-source technology for the enterprise."
"Every once in awhile a new application development framework comes along that dramatically accelerates the way people create applications," said Mr. Skok. "Those rare platforms that excite developers ultimately revitalize software development and spur new creativity. Though it's still early, Meteor appears to be the next big thing in Web application development as it delights both its expert and novice users."
"Today, we're in the midst of the biggest architectural change since the rise of the web. Traditional web application architectures don't cut it anymore, as users expect a better experience," said Dr. Johnson. "I believe that Meteor can lead this transformation in web technology, and I'm excited to join their board. Meteor not only enables web developers to develop rich applications spanning multiple client types, it makes web development fun again."
Andreessen Horowitz led the Series A, which included significant participation by Matrix Partners. Other investors include Maynard Webb, who sits on the boards of Salesforce and Yahoo; Paul Buchheit, author of Gmail; James Lindenbaum, cofounder of Heroku; Dustin Moskovitz, cofounder of Facebook; Alexis Ohanian, cofounder of Reddit; Y Combinator; Ron Conway; Yuri Milner; and Aaron Iba, coauthor of EtherPad.
Meteor is free, open source software licensed under the MIT license. The goal of Meteor is to make app development radically simple for everyone from expert to novice developers. The Meteor project is overseen by the Meteor Development Group, which is based in San Francisco and is backed by Andreessen Horowitz, Matrix Partners, Y Combinator, and individual investors. Meteor was created in 2012 by Geoff Schmidt, Nick Martin, and Matt DeBergalis. Meteor is currently available for an early preview at www.meteor.com.
About Andreessen Horowitz
Andreessen Horowitz is a venture capital firm that provides seed, venture and growth stage funding to the best new technology companies. Founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz helps entrepreneurs become successful CEOs and build important and enduring companies. Its general partners are Marc Andreessen, Ben Horowitz, John O'Farrell, Scott Weiss, Jeff Jordan and Peter Levine, all widely recognized experts in the creation, scaling and operation of high growth technology companies. The firm has $2.7 billion under management across three funds. Among its 150 investments are Airbnb, Apptio, Box, Fab, Facebook, Foursquare, GitHub, Jawbone, Lytro, Pinterest, SilverTail Systems, Twitter and Zynga. The firm was established in June 2009 and is located in Menlo Park, California. www.a16z.com.
About Matrix Partners
Matrix Partners is a premier venture capital firm that has generated outstanding returns for more than three decades. By focusing on early-stage investments and emphasizing long-term relationships with entrepreneurs, the firm has delivered several of the industry's top performing funds of all time. Matrix Partners has offices in Cambridge and Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. Matrix Partners has invested in several game-changing, industry-leading businesses such as Apple Computer, Gilt Groupe, JBoss, Netezza, Phone.com, Polyvore, Starent Networks, Sycamore Networks, Veritas, Zendesk, and Zong. Please visit www.matrixpartners.com.
GMK Communications for Meteor
SOURCE Meteor Development Group
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