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Virtustream Secures an Additional $15M of Series B Venture Capital Funding, Bringing Total Equity Raised to $75M

Virtustream, Inc., a leading enterprise cloud solution provider, today announced it secured an additional $15 million in funding, bringing the total venture capital raised to $75 million. Leading investors Intel Capital, Columbia Capital, Noro-Moseley Partners and TDF all participated in the raise with the addition of a new investor, QuestMark Capital. The additional funding will further accelerate client growth, accelerate development of the xStream cloud solution and expand Virtustream’s geographic coverage to support the rapid growth in the enterprise cloud market.

Part of the proceeds from the raise will be used to further enhance xStream, Virtustream’s secure high-performance cloud platform. The xStream platform was purpose built to address the exacting requirements of enterprise customers as they move their IT and applications to the cloud. xStream is an enterprise-class cloud solution to manage private, virtual private, public and hybrid clouds. xStream is available both "as-a-service" and as a software solution for customers’ clouds. xStream delivers secure enterprise class clouds, with application level SLAs, supporting multiple hypervisors and is the industry's first cloud solution to use "Micro-VM" technology providing efficiency significantly beyond traditional virtualization and enabling a truly consumption based pricing model. The additional solution enhancements planned for xStream will enable cloud federation and cloud exchange capabilities combining private clouds, virtual private clouds and public clouds.

The additional capital will also support company expansion across new geographies and sectors in order to meet rapidly escalating cloud demand, particularly from the enterprise, service provider and government market sectors. Virtustream has offices in New York, Washington, London, and San Francisco and operates four data centers worldwide. Virtustream is expanding geographic reach further with strategic partnerships in China and Southeast Asia, including Malaysia, Indonesia and Thailand.

Published Friday, March 09, 2012 5:56 PM by David Marshall
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