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Virtustream completes series A funding worth USD40m

Virtustream, a privately held infrastructure services firm, has closed out a series A round of equity financing with approximately USD40m in total capital.

Its latest funding comes from Intel Capital, Noro-Moseley Partners and TDFunds.

This completes the series A funding started by lead investors Columbia Capital and Blue Lagoon Capital announced in September 2009.

The funding will be used to support the continued development of Virtustream’s infrastructure and the expansion of the xStream cloud computing platform. Introduced in March, xStream is the first hybrid enterprise cloud platform with guaranteed compute resources across aggregate client workloads whether hosted in the company’s data centre or installed on a customer’s premise.

“Virtualisation technologies play a crucial role in allowing businesses to fully leverage the enterprise cloud,” says Bryan Wolf, managing director at Intel Capital. “With the unique approach and leading edge technology behind the xStream platform, Virtustream is well-positioned to meet the needs of enterprises looking to cut IT costs and improve reliability by offering flexibility, disaster recovery and security in one complete offering.”

“The xStream platform is based on numerous successful customer engagements where Virtustream has used its proven methodology to onboard, process and deploy virtualisation and cloud environments,” adds Rodney Rogers, executive chairman of Virtustream and general partner of Blue Lagoon Capital. “This additional funding will allow Virtustream to further its vision by investing in the technology powering the offering.”

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