rPath, which got on our radar thanks to some high-profile customers, today announced that the company has closed a $10M round of venture financing. The Series C round was led by rPath’s existing backers, General Catalyst, North Bridge Venture Partners and Wakefield Group. The company says it plans to use this new capital to increase its leadership in enabling cloud computing.
“As the demand for cloud computing continues to explode, rPath is in a unique position to drive adoption as the fastest and most scalable approach for delivering applications to cloud computing environments such as Amazon’s Elastic Compute Cloud (EC2), Citrix’s XenServer, and VMware’s Virtual Infrastructure,” said Billy Marshall, rPath founder and CEO.
Since the beginning of 2008, rPath has seen a surge of interest in its technology resulting in an increase of over 100% in new customers, including 3SP, Avinity Systems, CERN, Cynapse, Department of Energy, DigitalStakeout, Firescope, VIP Tone and Webalo.
[Source: Private Equity HUB]
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