UK-based virtualization company VirtenSys has secured a Series B funding round to the tune of € 8.1 million (USD 12 million). The syndicate consists of existing shareholders Scottish Equity Partners, Celtic House Venture Partners and the Belgian GIMV. VirtenSys will use the new funds to expand operations in the UK and US, and to launch its products and begin revenue generation.
“That the original investors subscribed fully to the Series B round is significant,” said Andy Roberts, chairman of the board of directors of VirtenSys. “It validates our strategy and demonstrates their confidence in the market opportunity and the demand for our products.”
VirtenSys is developing I/O virtualization solutions for data centers. VirtenSys’ technology enables data centers to better adapt to dynamic workloads, self-configure, and self-heal at a lower total cost of ownership and higher utilization than currently available systems.
VirtenSys predicts a growing demand for its solutions as workloads on data centers keep increasing and the dynamics of the IT workload are changing. According to the company these dynamics call for greater corporate agility in response to changing business conditions and require an IT infrastructure that can adapt equally fast. Organizations are trying to find new ways to increase data center utilization while reducing the total cost of ownership. This again requires greater dynamism in the management of the IT workload.
VirtenSys’ strategy is to protect IT investments with a standards-compliant migration path for servers to virtualized I/O resources. The I/O virtualization solutions are based on the industry-standard PCI Express I/O interface which is natively available on all servers.
Stuart Paterson, a partner at lead investor SEP said, “SEP is confident that VirtenSys has an excellent future. Virtualization is very much at the top of CIO agendas. VirtenSys virtualization solutions increase utilization, while lowering power and cooling requirements by as much as 50 percent. This is very attractive to many organizations seeking to optimize their data centers.”
Just recently, VirtenSys appointed a new CEO (Ahmet Houssein ), a new chairman (Andrew Roberts ), expanded its sales and engineering executive teams and opened its US headquarters in Oregon. The company was founded in December 2005 and raised its first round of funding in October 2006. Scottish Equity Partners, Celtic House Venture Partners and GIMV then invested a total of €9.5 million.
[Via Tornado-Insider ]