Openbravo, the open-source ERP vendor, has pulled in $12 million in Series B funding from new investors Amadeus Capital, GIMV and Adara Venture Partners.

As an advisor to Openbravo, I can attest to how hard the Openbravo team worked to finalize this funding. It is an investment well-earned, and should be money well-spent.

Openbravo has emerged as perhaps the leading open-source ERP vendor in a short space of time, in large part because of its strength as a hosted solution and due to its viability in emerging markets like Latin America and under-served parts of Europe.

Congratulations to the Openbravo team!