Belgian based virtualization start-up Q-layer just announced that it has closed a € 7 million ($ 9 million) round with Wellington Partners, Partech International and Big Bang Ventures.
This funding seems to confirm the industry trust among venture capitalists that 2007 will be the virtualization break-through year and that there is room in this market for more than VMware, Xen and Microsoft.
After a € 1.4 million first round in May 2006, Q-layer announced that Munich-based Wellington Partners and San Francisco-based Partech International have taken the lead in a € 7 million ($ 9 million) investment in the company. The lead investor of the first round, Big Bang Ventures will also participate in this round. Q-layer plans to use the proceeds of this round to build up its market presence in the US and Europe. As a result of this investment, Bart Markus of Wellington Partners and Nicolas El Baze of Partech International will join Kristof De Spiegeleer (founder & CEO); Niko Nelissen (VP Business Development) and Frank Maene of Big Bang Ventures on the board of directors.
