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Series A funding

Reflex Systems Bags $8.5 Million in Series A Funding

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Reflex Systems today announced that it has secured $8.5 million in Series A funding lead by RFA Management Company, an Atlanta based private investment firm.

The deal marks the final step in the reorganization of Reflex Security Inc. by creating a new Georgia limited liability company, Reflex Systems LLC. Reflex Systems is exclusively focused on virtual management and security software solutions. The company’s award winning Reflex VMC (Virtualization Management Center) product provides the industry’s most comprehensive management solution with dynamic policy enforcement across the entire virtual datacenter, whether the virtual resources are hosted locally, remotely, or in a cloud environment.

“This funding is testament to the innovation that our management and security solutions are delivering to the rapidly growing virtualization market,” said Pete Privateer, CEO of Reflex Systems. “Organizations are investing in virtual infrastructure to streamline costs and operations during these extraordinary economic times. Likewise, the demand for tools to automate the management and security of virtual datacenters is a rapidly emerging market creating significant growth opportunities for Reflex.”

Parascale Raises $11+ Million In Series A Funding For Linux Cloud Storage

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Parascale, a provider of cloud storage solutions for rich media content in traffic-intensive applications, today announced that it has closed an $11.37 million Series A financing round led by venture capital firms Charles River Ventures and Menlo Ventures.

Parascale

Parascale plans to use the funding for product development and marketing initiatives in preparation for the launch of Parascale Cloud Storage (PCS), an application that aggregates disk storage on multiple standard Linux servers providing one highly scalable storage cloud, accessible via standard file access protocols.

According to the news release, Parascale has developed a new class of storage solutions designed to support the wave of content-intensive applications, including video-on-demand, digital document archiving, scientific data analysis, video surveillance and medical image remote diagnosis among others. The company’s PCS software is patented technology which automatically and transparently migrates and replicates files among storage nodes to balance and optimize performance – without interruption in client access.

Parascale PCS

“With Charles River Ventures and Menlo Ventures, we have the two premier investors in the storage space supporting our company,” said Sajai Krishnan, Parascale CEO. “In the very specific technology domain where Parascale operates , clustered storage, Charles River’s success with EqualLogic has been the best clustered SAN-storage exit. Menlo’s investment in Spinnaker Networks has been arguably the best clustered NAS-storage exit. It is an honor to have Bruce Sachs of Charles River and John Jarve of Menlo on our board. Their voting with their wallets in leading the Series A round, is an affirmation of Parascale’s team, business model and opportunity.”

[Source: ByteandSwitch]

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

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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.

Leostream

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.