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.