Compiere has secured its first external funding to the tune of US$6 million and is planning to relocate its headquarters, the open-source midmarket business applications company said Tuesday.The vendor makes the open-source integrated ERP and CRM Compiere software that can be used on-premise or can be hosted. In a different take on the traditional open-source model, the company focuses on developing and supporting the software, leaving product distribution to its 70-plus global partner network. There are currently about 240 paying Compiere customers, along with more than 1 million downloads of the open-source software.Compiere plans to use the funds from venture capital investor New Enterprise Associates (NEA) to enhance its software to better serve its partners’ needs, said Jorg Janke, founder and chief executive officer of Compiere. In particular, the company intends to expand its manufacturing and CRM capabilities. Previously, the Compiere software was more heavily weighted toward providing ERP functionality.Currently employing fewer than 10 people, Compiere looks to hire more staff and move from Portland, Ore., to California’s Bay Area, Janke said. The main reason for the move is to have access to a larger pool of skilled ERP developers, he added. Compiere is looking at real estate in Silicon Valley and hopes to relocate within a month. In the midmarket space, Compiere competes with Oracle in terms of the technology it acquired from J.D. Edwards and Microsoft with the software it gained through buying Great Plains Software and Navision, Janke said.Compiere’s software runs on Linux, Windows, Macintosh and Unix and supports Oracle’s database. Janke expects to add support for the open-source Apache Derby database in July. Derby is based on the Cloudscape database that IBM made available to the open-source community last year. After Derby, Compiere next plans to support IBM’s DB2 and later Microsoft’s SQL Server, Janke said.-China Martens, IDG News Service (Boston Bureau)Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by Palo Alto Networks Operational technology systems require a robust Zero Trust strategy in 2024 Zero Trust provides a foundation for creating a stronger security posture in 2024. By Navneet Singh, vice president of marketing, network security, Palo Alto Networks Dec 05, 2023 6 mins Security brandpost Sponsored by AWS in collaboration with IBM How digital twin technology is changing complex industrial processes forever As the use cases for digital twins proliferate, it is becoming clear that data-driven enterprises with a track record of innovation stand the best chance of success. By Laura McEwan Dec 05, 2023 4 mins Digital Transformation brandpost Sponsored by AWS in collaboration with IBM Why modernising applications needs to be a ‘must’ for businesses seeking growth Around one-third of enterprises are spending heavily on application modernisation and aiming for cloud native status. The implications for corporate culture, structure and priorities will be profound. By Laura McEwan Dec 05, 2023 5 mins Digital Transformation opinion 11 ways to reduce your IT costs now Reorienting IT’s budget toward future opportunities is a big reason why CIOs should review their IT portfolios with an eye toward curbing unnecessary spending and realizing maximum value from every IT investment. By Stephanie Overby Dec 05, 2023 11 mins Budget Cloud Management IT Governance Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe