Funding

Neocleus Raises $11,4 M in Series B Funding

June 19, 2008 by Robin Wauters Leave a Comment

Neocleus, a startup yet to release a product who recently unveiled its ‘endpoint virtualization’ strategy, seems to have been convincing enough in validating its approach to investors. The company has raised $11.4M in Series B funding (PDF) in a round led by Battery Ventures and Gemini Israel Funds, its original investors.

Neocleus applies virtualization to desktops and laptops delivering the flexibility, manageability and security needed to address different user scenarios within a dynamic, dispersed enterprise. The company’s solutions, which include a Xen-based open source Type 1 bare-metal hypervisor for endpoints, aim to enable critical IT tasks to operate in isolated, trusted virtual environments with complete access to the capabilities offered by the underlying endpoint hardware.

Neocleus was founded in 2006 by industry veterans Ariel Gorfung (CEO) and Etay Bogner (CTO) and launched last May with the announcement of the Desktop Hypervisor Framework, an endpoint hypervisor enhancement to the Xen server hypervisor that the company will be contributing to the open source community.

Most recently Neocleus announced Trusted Edge, the first in a suite of virtual software appliances that allows for secure access to corporate resources – for employees, customers and partners – regardless of the endpoint’s location or state of security.

Leostream Picks Up Series A Funding To The Tune Of $3 Million

May 6, 2008 by Robin Wauters 1 Comment

Waltham, Mass.-based hosted desktop connection broker Leostream, has raised $3 million in Series A funding led by Meakem Becker Venture Capital, reports Private Equity Hub, citing a regulatory filing.

CEO Mike Palin said the company plans to release details on the financing in coming weeks. Palin is the former CFO of Sitara Networks Inc., a Waltham, MA-based quality-of-service software developer.

Leostream was founded in 2002 by David Crosbie, who is now listed as the company’s CTO. He had previously founded Adero and Bluesocket, a wireless networking firm in Burlington. In 2001, COLT Telecom Group acquired Adero for an undisclosed amount.

Over the years, Leostream has evolved from basic virtualization management to Connection Brokering for both physical and virtual machines. The company boasts a high number of quality partnerships with companies like HP, Intel, Citrix and Microsoft, among others.

Motorola Joins Investors Behind VirtualLogix (Update)

April 21, 2008 by Robin Wauters Leave a Comment

According to PC World, Motorola has joined Cisco, Intel and Texas Instruments in funding mobile virtualization company VirtualLogix (see our previous coverage). Update: the official release went over the wire.

VirtualLogix lets a user access two separate operating systems on the same handset with its VLX for Mobile Handsets product line – allowing them to share some resources like memory, but also keeping other areas, such as applications, securely apart.

Today, the company plans to announce that Motorola is a new investor in the company. Motorola is interested in VirtualLogix primarily for its mobile phones, but has also expressed an interest in using it for virtualization in its network equipment, reportedly said Peter Richards, CEO of VirtualLogix.

More when the official announcement comes in!

Update: the official word is in, but doesn’t provide much more details. Motorola made the equity investment through Motorola Ventures, its strategic capital arm, without disclosing the size of the investment.

Motorola joins VirtualLogix’s current investors Atlas Venture, Cisco Systems, DFJ Esprit, Index Ventures, Intel Capital and Texas Instruments. The company raised $16 million in series B last July, and got an extra (undisclosed) equity investment from Texas Instruments last December. The total amount invested in the company so far is $28 million, and the company says it is open to more strategic investors joining the club.

Noteworthy, however, is the comment that was added by our media contact, which shows Motorola’s ambition:

“Motorola is rising to the challenge of competing against competitors like the iPhone to develop disruptive new handsets, that will be less expensive to develop, while providing a much richer user experience. Virtualization can give one phone two different personalities, making it possible to switch between work functionality and fun applications, even between plans and accounts on one device.”

[Source: SMS Text News]

Incipient Raises $ 15.6 Million Venture Capital Funding In Series E

February 21, 2008 by Robin Wauters Leave a Comment

Incipient, a provider of enterprise-class storage virtualization and automated data migration software solutions, announced today that it has closed a $15.6 million Series E round of funding from existing investors including Globespan Capital Partners, GrandBanks Capital, HLM Venture Partners, Greylock, QuestMark Partners, Sigma Partners, and Wasatch Advisors, as well as a new investor.

Incipient says it will use this new funding to expand global sales and marketing initiatives for its enterprise-class award winning storage virtualization and automated data migration software solutions now being used by leading financial services organizations to automate and virtualize their data center operations.

“We are pleased with the continued steadfast support and confidence of this storage-savvy investor group participating in this latest round of funding,” said Ric Calvillo, CEO and co-founder of Incipient. “Over the last year we have seen a dramatic increase in customer traction and interest in both our storage virtualization and automated data migration solutions within the financial services market segment. We see this interest accelerating globally over the upcoming year as we uniquely address the desire by large financial services accounts to automate and virtualize data center operations to manage complexities associated with storage growth and business service requirements.”

“The need to automate and virtualize data center operations is a top priority for global financial services entities and Incipient is uniquely well-positioned to capitalize on this rapidly evolving market opportunity,” said Bill Helman, general partner, Greylock. “We look forward to working with and continuing to support Incipient as they execute on the major market opportunity they are now prepared to exploit with their enterprise-class solutions.”

[Source: VMBlog]

Another Day, Another Funding Deal: VirtenSys Raises 8.1 Million Euro

January 31, 2008 by Robin Wauters Leave a Comment

UK-based virtualization company VirtenSys has secured a Series B funding round to the tune of € 8.1 million (USD 12 million). The syndicate consists of existing shareholders Scottish Equity Partners, Celtic House Venture Partners and the Belgian GIMV. VirtenSys will use the new funds to expand operations in the UK and US, and to launch its products and begin revenue generation.

“That the original investors subscribed fully to the Series B round is significant,” said Andy Roberts, chairman of the board of directors of VirtenSys. “It validates our strategy and demonstrates their confidence in the market opportunity and the demand for our products.”

VirtenSys is developing I/O virtualization solutions for data centers. VirtenSys’ technology enables data centers to better adapt to dynamic workloads, self-configure, and self-heal at a lower total cost of ownership and higher utilization than currently available systems.

VirtenSys predicts a growing demand for its solutions as workloads on data centers keep increasing and the dynamics of the IT workload are changing. According to the company these dynamics call for greater corporate agility in response to changing business conditions and require an IT infrastructure that can adapt equally fast. Organizations are trying to find new ways to increase data center utilization while reducing the total cost of ownership. This again requires greater dynamism in the management of the IT workload.

VirtenSys’ strategy is to protect IT investments with a standards-compliant migration path for servers to virtualized I/O resources. The I/O virtualization solutions are based on the industry-standard PCI Express I/O interface which is natively available on all servers.

Stuart Paterson, a partner at lead investor SEP said, “SEP is confident that VirtenSys has an excellent future. Virtualization is very much at the top of CIO agendas. VirtenSys virtualization solutions increase utilization, while lowering power and cooling requirements by as much as 50 percent. This is very attractive to many organizations seeking to optimize their data centers.”

Just recently, VirtenSys appointed a new CEO (Ahmet Houssein ), a new chairman (Andrew Roberts ), expanded its sales and engineering executive teams and opened its US headquarters in Oregon. The company was founded in December 2005 and raised its first round of funding in October 2006. Scottish Equity Partners, Celtic House Venture Partners and GIMV then invested a total of €9.5 million.

[Via Tornado-Insider ]

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Another Virtualization Company Raises Funding; This Time Pano Logic Is Getting $ 12 Million

January 29, 2008 by Robin Wauters Leave a Comment

After Virtual Iron and CiRBA , it’s now Pano Logic announcing fresh funding to the tune of $ 12 million. This is the desktop virtualization company’s second round, which was led by New York-based Goldman Sachs.

Other participants included Foundation Capital, which has an office in Menlo Park (where Pano Logic is based).

The company said it uses existing server virtualization technologies to create a new approach to client/desktop computing that lowers total cost of ownership while increasing security, management and mobility.

Founded in 2006, Pano Logic also has an office in Toronto, Canada.

[Via BusinessJournal ]