xkoto, the database virtualization company, today announced that it has raised $3 million in financing from existing investors GrandBanks Capital and GrowthWorks Canadian Fund. xkoto has now raised a total of $13 million since it was founded in 2005.
xkoto will use the funds to build its sales force, accelerate customer acquisition, and continue to enhance its GRIDSCALE database virtualization product. The company experienced record 2008 sales, added several global corporations as customers, and closed the year with 275 percent growth in the fourth quarter.
GRIDSCALE virtualizes the database infrastructure, enabling businesses to distribute application load horizontally across multiple instances of commercial databases running on clusters of low-cost hardware, mid-range systems and virtual machines. With GRIDSCALE, businesses can improve application performance and achieve continuous availability for business-critical applications.
Source: peHUB
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