Cloud Computing Startups Raise Big Money
This is the fifteenth in a continuing series on startups raising funding. You can read the latest in the series at: Cloud Computing Startups Raise Big Money: UPDATE 13. For previous updates, please click on relevant links in the aforementioned article. Today, there are two startups in focus – Concurix and Delphix, and no, those names have nothing to do with Asterix and Obelix (if you are a fan of comic books, you will find this amusing; if not, apologies).
Compared to the many startups covered in previous articles, $1 million in funding may not seem like much. But for a company that is keeping its cards close to its chest and hasn’t released any prototype, it’s no small change. The startup has been established by Alex Gounares who has a long and successful career in the technology industry. Most recently the Chief Technology Officer (CTO) at AOL, Gounares had also spent considerable time at Microsoft, starting out as Bill Gates’ Technology Advisor and leaving the company seven years later as the CTO of its online division.
Concurix describes itself as a “new company focused on building a next generation operating system for cloud data centers as a replacement for Linux or Microsoft Windows Server….. taking advantage of the latest manycore chipsets and functional programming to achieve significant price performance and scalability improvements over traditional operating systems.” A SEC filing says that it has raised $1 million, while another mentions $400,000 provided by Seattle venture capital firm GSharp Ventures.
For those who sneer at $1 million in investment capital, here’s a figure that may interest you – $25 million raised by database virtualization leader Delphix in Series C funding, bringing total money raised by the startup to a whopping $45 million. The round was led by Jafco Ventures while Summit Partners and Battery Ventures joined in as new investors. Existing investors, including Greylock Partners and Lightspeed Venture Partners, also participated.
“Today’s enterprises want to take advantage of cloud computing to cut costs and increase agility. Enterprise databases, however, can be challenging to migrate to cloud environments while running in production. With our data synchronization and virtualization technologies, we deliver the right data to the right teams at a fraction of the cost and time, which can accelerate application projects by up to 500% while cutting hardware costs by 90%,” said Jedidiah Yueh, CEO and founder of Delphix. The company delivers what it calls “agile data” to enterprises, enabling them faster storage, retrieval and processing of data, and has grown 300% annually since making a publicized entry in 2010 into the cloud market.
By Sourya Biswas