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Funding

Teradici Raises $17 Million Series C Financing Round

April 10, 2009 by Robin Wauters Leave a Comment

Teradici Corporation today announced completion of a US $17 million series C funding round for its PC-over-IP network-delivered computing technology. With network-delivered computing, users can work at inexpensive computer stations at any site, with all operating systems, applications, and data residing in central datacenters.

Teradici will use the new funds to continue to market its ground-breaking enterprise PC-over-IP technology around the world and to develop a new offering for consumers and small businesses. Customers of the future service would be able to sit at any workspace in the office, remote office, or user’s home, log in to access their system and files from the central datacenter. Customers would have the option of using their own equipment or receiving terminals as part of their contracted service. They receive exceptional graphics, multimedia, audio and USB connectivity without having to purchase, manage or maintain a PC.

Investors in the over-subscribed funding round include TELUS Ventures, the venture arm of TELUS, as well as Alloy Ventures, GrowthWorks Capital, Skypoint Capital, BDC Venture Capital, and Alta Berkeley Venture Partners.

Teradici also announced that Kevin Salvadori, Executive Vice President of Business Transformation & Technology Operations at TELUS, will assume a seat on its board of directors. Mr. Salvadori brings to the board extensive strategic and operational experience in Information Technology systems architecture, application development and maintenance, technology operations, and physical and technology security.

The investment by TELUS supports the organization’s efforts to partner with high-potential companies that offer unique technologies and innovative products that will accelerate growth initiatives within TELUS.

Filed Under: Funding Tagged With: financing, Funding, investment, pc-over-ip, pcoip, Series C, telus, telus ventures, teradici, teradici corporation, virtualisation, virtualization

Virtualization Security Startup HyTrust Launches With $5.5 Million In Series A Funding

April 8, 2009 by Toon Vanagt Leave a Comment

HyTrust is entering the virtualization arena today with HyTrust Appliance, which serves as a central point of control, management and visibility for virtualized environments. The company also announced it’s launching with venture capital backing to the tune of $5.5 million, a Series A funding round which was led by Trident Capital and joined by Epic Ventures.

VirtSec nowadays is less about those familiar ‘pure’ security functions like FireWalls (FW) or Intrusion Detection (IDS), but much more about the configuration control and compliance of virtualized environments. HyTrust claims to provide such centralized control, compliance,directory integration and security – requirements that become mission critical as virtual infrastructures scale up and production applications get virtualized. Readers of this blog, probably already know that in addition to immediate cost savings, virtualization enables a more flexible and dynamic infrastructure that can quickly morph to meet changing needs of any organization.

The fresh HyTrust single point of control seems to be competing with Reflex Virtualization Management Center (VMC),  Third Brigade Deep Security and an established suite of products from Catbird V-Security such as VMShield, HypervisorShield and VMPolicyCompliance. However during our interview with Eric Chiu (CEO HyTrust), he was confident that HyTrust is different by “really focusing on the underlying virtual infrastructure itself. HyTrust authenticates traffic across 5 VMware application interfaces and centrally enforces policies through role based access control. HyTrust single point of control and hypervisor security really ensures what is allowed to happen and what not.” Questioned on the introduction of a yet another single point of failure or potential security flaw, Chiu was confident that HyTrust “is even more secure than VMware vCenter, since our appliance runs on a hardened Linux OS, without command line interface and its use is strictly limited to the provided User Interface.” It goes without saying that known malicious penetration attempts, scans and probes were tested too. Apart form the current exclusive support for VMware ESX, Chiu confirmed to Simon Crosby they would come up with support for Citrix XenServer and also Microsoft Hyper-V later this year. “Our go-to-market strategy started with the VMWare enterprise datacenter customers, but we are already in talk with 3 leading Vmware cloud providers.” When it comes to cloud computing,  Chiu sees 2 main scenario’s. First the ‘internal cloud’-approach (aka located in-house, owned & internally managed by an organization), where HyTrust can provide a purpose built lasso around such corporate cloud environment. The second approach involves external cloud providers (located off-premise & managed by a third party provider) and could still make customers achieve compliance in an easy way by implementing Hytrust as a virtual appliance into that cloud offering.

Due to significantly higher rate of change in virtual infrastructure, automated controls are necessary to ensure that security and operational readiness is on par with that of physical environments. In addition, given the spread of virtualization, companies are now being faced with meeting regulatory compliance of their virtual infrastructure. HyTrust allows enterprises to meet these needs and answer the demands of auditors and their solution was created to proactively address the new challenges presented.

Rather than retroactively building necessary safeguards while sensitive data is put at risk, HyTrust, which has three patents pending, allows organizations to build a manageable virtual infrastructure foundation from the ground up. Additionally, to comply with regulations or security standards such as HIPAA, SOX and PCI/DSS, HyTrust gives enterprises the ability to demonstrate that adequate processes and enforcement controls are in place, configuration changes are consistent, and confidential information is secure. The HyTrust Appliance is the only product that addresses virtualization infrastructure control, including all four requirements outlined.

Backed by positive reactions from 12 trial customers, Eric Chiu is confident that he has gotten ‘at the right place, at the right time with the right solution’.

Pricing for the HyTrust Appliance (Enterprise Edition) is based on the number of protected VMware ESX hosts (on a per CPU/socket basis) and HyTrust Appliance license. Protection license for a 2 CPU VMware ESX host is $1,000; the HyTrust virtual appliance is $3,000; and the physical appliance is $7,500. Maintenance and support is charged on 25% of the annual license basis. HyTrust will soon make available the new HyTrust Appliance: Community Edition —a free virtual appliance available for download via the Web. Due out at the end of April, Community will allow protection for up to 3 hosts and offers an excellent way for smaller companies to bring automated virtualization best practices into their environments. HyTrust launched with a direct customer approach, but was already contacted by integrators and resellers eager to distribute licenses. Hytrust is expected to develop such hybrid distribution model in the third quarter of 2009.

Next to its venture capital investors, HyTrust is launching with an impressive list of technology partners, including VMware, Symantec, Cisco Systems and Citrix Systems.

Filed Under: Featured, Funding Tagged With: Epic Ventures, hytrust, hytrust appliance, HyTrust Appliance Enterprise Edition, Trident Capital, virtual appliance, virtualisation, virtualization

Skytap Taps $7 Million In Series B Financing

March 18, 2009 by Robin Wauters Leave a Comment

Skytap today announced it completed a $7 million Series B round of funding from Ignition Partners, Madrona Venture Group and Washington Research Foundation. The funds will be used to bolster the company’s product development, sales and marketing efforts.

Skytap’s rapidly growing list of customers utilize its cloud-based virtual lab solution to augment or replace dynamic, high cost IT environments such as those used for application development and testing, IT prototyping, product demonstrations and technical training. By allowing users to scale resources on-demand and pay only for time and resources utilized, customers can immediately reduce costs, increase productivity and improve responsiveness to business demands.

Since emerging from stealth less than one year ago, Skytap has achieved strong customer traction and third-party recognition for its innovative virtual lab offering.

Filed Under: Featured, Funding Tagged With: financing, Funding, Ignition Partners, madrona venture group, series B, series b financing, Series B funding, Skytap, virtualisation, virtualization, washington research foundation

Hyperformix Snags $3.8 Million More to Spur Growth in Virtualization Capacity Planning

March 3, 2009 by Robin Wauters Leave a Comment

Hyperformix, provider of solutions for IT capacity and performance, today announced that it has secured a new round of equity and debt funding totaling $3.8 million. The funding will be used to drive accelerated growth and market penetration for its solutions aimed at the virtualization market. New investor LTI joins existing investors M/C Venture Partners and Morgan Stanley Venture Partners for the round.

Hyperformix will use the funds to expand engineering, marketing and sales of its IT capacity and performance solutions for virtualized environments.

The increasing importance of virtualization management in large scale IT shops has revitalized the market for IT capacity planning. According to Peter Klante, Hyperformix President and CEO, this funding will allow Hyperformix to solidify and accelerate its leadership position in this new and exciting market.

Hyperformix software’s advanced techniques produce accurate predictions of performance and capacity of key applications and deliver actionable insights through compelling interactive dashboards. Hyperformix can automatically assess the current health of IT systems and predict near- and long-term capacity and performance issues. Hyperformix solutions can be used in planning phases for IT changes, in test environments and to manage production environments.

Filed Under: Funding Tagged With: debt funding, financing, Funding, Hyperperformix, it capacity, LTI, MC venture partners, Morgan Stanley Venture Partners, virtualisation, virtualization, virtualization capacity planning

Hyper9 Raises $8 Million Series B Round, Mike Maples Joins Its Board

March 2, 2009 by Robin Wauters Leave a Comment

Hyper9 has raised $8 million in a series B funding round led by Venrock, a highly respected venture capital firm. Joining Venrock were current investors Matrix Partners, Silverton Partners and Maples Investments.

Hyper9’s new breed of virtualization management technology provides virtual infrastructure administrators with the visibility they need to effectively do their job as well as provide the control that is necessary to manage such a dynamic environment. The Hyper9 product will be generally available early March, 2009.

The company also announced that Mike Maples Sr., a private investor and tech industry veteran, joined its Board of Directors. Formerly Executive Vice President of the Worldwide Products Group for Microsoft, Maples has a proven track record in advising software companies as they expand product lines and enhance business operations such as sales and marketing. Prior to Microsoft, Maples held senior positions at other market leading companies such as IBM, Lexmark, NetIQ, and Sonic restaurants.

Filed Under: Featured, Funding Tagged With: financing, Funding, Hyper9, Maples Investments, Matrix Partners, Mike Maples, Mike Maples Sr, series B, Silverton Partners, Venrock, virtualisation, virtualization

Pano Logic Raises Follow-Up Financing To The Tune Of $6 Million

February 3, 2009 by Robin Wauters Leave a Comment

Pano Logic today announced it has closed an extension to its Series B round of $6 million led by Foundation Capital and Goldman Sachs. This funding brings the total Series B financing to $18 million, and completes a year of expansion for Pano Logic, which experienced quarter-over-quarter growth and has received extensive industry recognition since bringing its first product to market in late 2007.

Over the course of 2008, Pano Logic has significantly increased its install base and signed more than 150 partners including one of the leading distributors, Avnet. Additionally, the Pano Virtual Desktop Solution received a SearchServerVirtualization.com Product of the Year award, the red dot 2008, and Good Design 2008 product design awards. Pano Logic was also named a finalist for the 2008 Red Herring North America 100 Awards, which recognizes startups that will lead the next wave of disruption and innovation.

Filed Under: Featured, Funding Tagged With: desktop virtualization, financing, Foundation Capital, Funding, Goldman Sachs, investment, Pano Logic, Pano Virtual Desktop Solution, PanoLogic, series B, VC, venture capital, virtual desktop, Virtual Desktop Solution, virtualisation, virtualization

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