Cloud Company RackWare Receives $3 Million Funding

June 28, 2013
Cloud Company RackWare Receives $3 Million Funding
Cloud company RackWare has received $3 million in its first significant round of venture funding, also known as ‘Series A’ funding. Established in 2009 and based in Santa Clara, California and Wayne, Pennsylvania, USA, RackWare offers a range of solutions that integrate data center infrastructure and cloud resources into a scalable environment. The company’s funding was led by Kickstart Seed Fund and Osage Venture Partners and the investment will be used to improve RackWare’s sales and marketing functions.

RackWare’s cloud automation solutions offer a range of benefits to companies, enterprise IT users, and enterprise IT providers. The company’s hybrid solutions automatically scale physical, virtual, and cloud machines, offering customers 40%-50% cost savings.

Unlike many Series A companies, RackWare has existing customers and income. This means its funding can be directed towards promotion and increasing market awareness of its recently released Generation 2 product. Gavin Christensen, Kickstart Seed Fund’s Managing Director, will join RackWare’s Board of Directors alongside Nate Lentz, Managing Partner of Osage Venture Partners.

“Cloud management software is a fundamental enabler of enterprise cloud computing, and RackWare has a simplified approach to cloud management that enables rapid and efficient cloud migration and automatically optimized operations,” explained Mr. Christensen. “We are excited to be working with the most dynamic company in this market space.”

Do you any other companies that have received investment funding? Let us know the details. Add your comments below.

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