Open source software firm Open-Xchange has raised €21 million from Iris Capital and eCapital to boost its growth.

The new funds will be invested in building Open-Xchange’s development, engineering, and technical support teams to focus on its DNS and email services and expand its partner and customer network globally. The Nuremberg company’s clients include GoDaddy, Vodafone, and Liberty Global.

“With carrier-grade email solutions and communication services we provide the tools that hosters, telcos and cable companies need to fight off growing competition from OTT providers such as Google and Microsoft,” said Rafael Laguna, CEO of Open-Xchange.

Open-Xchange makes the “digital landscape secure and transparent for all,” added Curt Gunsenheimer, senior partner at Iris Capital.

“We are happy to support such a pioneering company, one that is actively helping the service provider market build efficient and innovative business models.”

Founded in 2005, the company said in a statement that in 2016 it reached its second consecutive year of profitability.

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