Revolutionizing Open-Source Development: Merit Systems Raises $10 Million
In the heart of Brooklyn’s trendy Williamsburg neighborhood, a former industrial landmark has been transformed into a hub for innovation. Inside the historic Domino Sugar Refinery, three engineers have created a startup that’s poised to disrupt the world of software development. Merit Systems, founded by Sam Ragsdale, Ryan Sproule, and Mason Hall, has just secured $10 million in seed funding to tackle a long-standing challenge: rewarding open-source developers.
The Attribution Problem
Open-source software underpins over 97% of the apps we use daily, but the lack of attribution to creators has led to unsustainable economics. Tech giants and independent programmers contribute to products that are freely available, but there’s no consistent model for rewarding individuals or small groups of contributors. Chris Dixon, managing partner of Andreessen’s crypto fund, notes that open source is “poorly funded and too reliant on altruistic contributions.”
Merit’s Solution
Merit Systems aims to solve this attribution problem by building a protocol that properly attributes and rewards contributors proportionally to the value they create. By connecting software buyers and users with the actual creators of the technology, Merit expects to enable users to pay directly for the software people build. This innovative approach has the potential to revolutionize the way open-source development is funded and sustained.
A Hub for Innovation
The Domino Sugar Refinery, once the last operating industrial facility on the waterfront, has been reimagined as a modern office complex. Merit Systems occupies 3,000 square feet of the former factory, with panoramic views of Manhattan visible through the original brickwork. The startup’s name is a nod to the industrial companies of the past, with a straightforward mission to reward merit.
Growing the Team
With a post-funding valuation of $55.5 million, Merit Systems is poised for growth. The company plans to add seven new hires in the coming months, seeking individuals who value an in-person work culture. As they expand, Merit remains committed to its mission of creating a sustainable model for open-source development.
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