$11m (implying a valuation of of over $20mm) is a lot of money. (Although in a world of $7 rent, $150k developers, etc, it isn't as much as you'd think).
However, Meteor looks like it has some chance of being a huge platform, maybe the next big one. Even if it just dominates a niche, that is more than enough to justify the investment. A bigger series a reduces risk for the company, and a lot of the other interesting hard tech companies out there raise that amount of funding early (eg Bromium).
Red Hat does a pretty good job of demonstrating how open source companies can make a lot of money.
However, Meteor looks like it has some chance of being a huge platform, maybe the next big one. Even if it just dominates a niche, that is more than enough to justify the investment. A bigger series a reduces risk for the company, and a lot of the other interesting hard tech companies out there raise that amount of funding early (eg Bromium).
Red Hat does a pretty good job of demonstrating how open source companies can make a lot of money.