In July 2006, BlueSpace closed a US-led venture financing round in the US, as part of its strategy to become a US-centric enterprise software company. This round was led by Gefinor Ventures, and totaled $6.4m.

BlueSpace was founded in July 2001. During 2001 to 2005, BlueSpace raised $11.2m of capital from private investors, many of whom have been and continue to be involved on an executive or advisory basis in the business. These include individuals with executive experience with Nokia, EMC, Lotus, Reebok, RealNames, Softbank, KS Biomedix Holdings and TranXenoGen Inc.