Marathon Technologies Stretches Series B Financing Round to $13.5M

Marathon Technologies has closed a third tranche of a $13.5 million round of Series B venture financing, according to a SEC filing.

The funding amount represents the total raised over three closings of a sale of Series B-1 convertible preferred stock, according to the regulatory filing, which was an amendment to a form filed in December 2008. The company, which makes fault tolerance software for mixed virtual and hardware environments, brought in the funding from 10 investors not disclosed in the filing.

In September, Littleton-based Marathon hired former IBM vice president Jim Welch as CEO. In August, the company raised $7 million in equity financing.

Founded in 1993, the company went through a bankruptcy reorganization in 2003. Since then, Marathon has raised at least $27.8 million from backers including Atlas Venture, Longworth Venture and Sierra Ventures.