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Big news out of the enterprise IT startup world. Mirantis, the pure-play cloud open standard OpenStack startup, has just announced $100 million in Series B funding led by Insight Venture Partners. This brings the total amount of money raised by Mirantis to $120 million.

In its announcement of the acquisition, Mirantis described their raise as the largest open source investment in history, as well as one of the largest Series B raises ever. As noted in a previous profile of Mirantis, OpenStack has quickly been emerging as the open source cloud standard of choice, and Mirantis' products and solutions have been based on OpenStack from the beginning, thus giving the company a key first mover advantage. In this regard, we can think of Mirantis as trying to position itself to be the Red Hat of the cloud.

What will Mirantis do with their big cash haul? The company has seen explosive growth recently, and its revenue has climbed from $1 million in new business per month to $1 million per week. With huge growth also comes a greater need for engineering resources, and Mirantis plans to use its funds to double its engineering investments. It will focus on development of its zero lock-in OpenStack software, including its downloadable distribution, Mirantis OpenStack, and its on-demand, hosted option, Mirantis OpenStack Express.

In addition, it also appears as though an IPO may be in Mirantis future. Mirantis' CEO, Adrian Ionel, has noted that the its big raise positions the company for a possible IPO in 2016, and gives Mirantis the heft to build a company which is similar in scale to VMWare - big ambitions indeed! 

While Mirantis will have to execute on its plans in the coming months if it wants to see its results match its ambitions, this is one company observers of the enterprise IT startup scene will want to keep an eye on.

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