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Virsto Software Adds Another $5 Million To Series B Round

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Virsto Software, a provider of VM-centric storage-hypervisor software, has landed a follow-on investment to the tune of $5 million to its June 8 Series B round of $12 million, bringing the total investment in the round to $17 million.

Southern Cross Venture Partners and Correlation Ventures join as new investors – InterWest Partners, August Capital and Canaan Partners backed the company earlier. Southern Cross was an investor in EvoStor, an Australia-based developer of storage solutions for the VMware market, which Virsto acquired earlier this year.

The additional funding will be used to accelerate growth, broaden industry partnerships and expand hiring to support continued innovation in Virsto’s products that bring performance, functionality and cost back into line for storage in virtual environments.

The company also plans to use the proceeds to enter the VMware market this year.

Founded in 2007, Virsto has developed the first multi-platform VM-centric storage hypervisor. A partner of Citrix, Microsoft, and VMware, Virsto’s software lets organizations change the economics of storage in server and desktop virtualization, increasing performance and management flexibility while lowering storage costs.

Virsto Lands $12 Million To “Transform Virtual Machine Storage”, Buys EvoStor

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Virsto™ Software has raised $12 million in Series B venture capital funding to drive new growth, product development and expand industry partnerships. The funding was led by InterWest Partners, and previous investors August Capital and Canaan Partners also participated in the round.

Khaled Nasr, a partner at InterWest who focuses on enterprise IT and data center infrastructure, will join Virsto’s board of directors.

In addition, Virsto today announced its acquisition of EvoStor, a company specializing in storage virtualization technology for VMware environments, to further deliver on the vision of multi-hypervisor support for reliable, heterogeneous, high-performance and low-cost storage.

Founded in 2007, Virsto has developed a hypervisor-based storage solution built for virtual machines. A close partner of Citrix and Microsoft, the company has a track record of advancing storage virtualization in the enterprise.

Today’s news also includes the acquisition of intellectual property and key team members from EvoStor, deepening Virsto’s bench of talent and technology.

EvoStor was an early innovator in the VMware storage market, delivering easy-to-deploy, reliable, scalable and affordable solutions. The strong partnership between EvoStor and VMware will benefit Virsto as it readies its software solutions for additional hypervisor platforms.

The new Virsto R&D team in Melbourne, Australia is working on near-term products that will be launched in coming months, as well as next-generation technology to be released in 2012.

The $12 million in Series B financing follows a $7 million Series A round in June 2009, with more than $20 million raised to date.