VMTurbo Adds to Coffers with $10 Million in B-Round Funding
For fans of VMTurbo, here’s some good news: Bain Capital Ventures and Highland Capital Partners have secured $10 million of B-round funding for the virtualization upstart. So what’s on the menu with all this freshly injected capital? Read on for the details…
Short and sweet, VMTurbo said it will “use the funding to expand product development, customer support, sales and marketing.” As the company should, especially if it wants to compete with the other big players in the virtualization marketplace.
In case you forgot, VMTurbo’s claim to fame is a platform-agnostic virtualization and cloud management solution that can help IT admins get better at-a-glance information on their data center empire. VMTurbo also provides a basic version of their software suite completely free of charge, too.
Why did Highland Capital Partners invest? Peter Bell, a general partner, noted, “… Service providers and enterprises are embracing VMTurbo’s platform.” Over at Bain Capital Ventures, Managing Director Ben Nye offered some kind words, calling VMTurbo’s solution “… the only holistic means of managing all resources in virtualized environments.”
We’ll continue to keep tabs on VMTurbo and see where this $10 million takes the company next. Recently, VMTurbo ramped up its partner program with a global partner expansion and partnered with Acronis for backup and virtualization storage.