RackWare Closes $3M Series A Funding Round

RackWare Closes $3M Series A Funding Round

RackWare Closes $3M Series A Funding Round

Kickstart Seed Fund, Osage Venture Partners Lead Round; Proceeds Will Fund Ramp-Up of Sales and Marketing

rackwareSANTA CLARA, Calif. – June 27, 2013 – RackWare, the company that brings intelligence and automation to the cloud by integrating datacenter and cloud resources into a scalable and intelligently managed computing environment, today announced that it has closed a $3 million Series A funding round led by Kickstart Seed Fund and Osage Venture Partners. Kickstart Seed Fund managing director Gavin Christensen will join RackWare’s board of directors, as will Osage Venture Partners managing partner Nate Lentz.

The proceeds of the funding will be used to ramp up RackWare’s sales and marketing organizations. According to Sash Sunkara, CEO of RackWare, “RackWare can deliver 40 to 50 percent cost savings to customers seeking to easily and cost-effectively enable the cloud while also managing a hybrid infrastructure of physical, virtual, private and public cloud resources. We’re in a unique position for a Series A company in that we already have customers in production and meaningful revenue. We’ll use this funding to grow our sales and marketing teams so we can attack the market with our recently released Generation 2 product.”

RackWare’s RMM 2.0 software dynamically integrates existing data centers and cloud applications into a seamless, intelligent, and automated cloud computing fabric that simplifies administration and reduces costs while maximizing flexibility and resilience.

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,” said Gavin Christensen, managing director of Kickstart Seed Fund. “We are excited to be working with the most dynamic company in this market space.”

RackWare’s cloud management software fits perfectly with our focus on enterprise software,” said Nate Lentz, managing partner at Osage Partners. “This is a new, massive market opportunity with only a few early players.  With a world-class team, strong partners, and first-rate technology, RackWare is in an excellent position to claim a commanding share of the cloud management software market, ”

About RackWare

RackWare brings intelligence and automation to the cloud, providing greater availability for , greater flexibility for enterprise IT users, and reduced costs for enterprise IT providers. Computing resources—physical, virtual, and cloud machines—can be easily and automatically scaled up or down as demand fluctuates. On average, RackWare customers realize a cost savings of 40 to 50 percent, while getting the highest performance and availability out of their cloud. RackWare was founded in 2009 and is based in Santa Clara, California and Wayne, Pennsylvania.

About Kickstart Seed Fund

Kickstart Seed Fund is a seed stage venture capital firm based in Salt Lake City, UT.  Kickstart Seed Fund’s mission is to kickstart companies in the Utah and the West by aligning technology creators, industry, entrepreneurs, and capital sources behind the funding and mentoring of seed investments.  Since raising its first fund in 2008, Kickstart has invested in nearly 30 companies.  For more information, visit www.kickstartfund.com.

About Osage Venture Partners:

Osage Venture Partners (OVP) is a venture capital firm located just outside of Philadelphia, Pa. that invests in early-stage enterprise technology companies in the Mid-Atlantic region. OVP raised its first fund in 2005, and has invested almost exclusively in enterprise software companies since that time. With over $100M under management, OVP seeks to invest in determined and creative entrepreneurs and provide them with the assistance required to build high growth businesses. For more information, visit http://www.osagepartners.com.

About CloudTweaks

Established in 2009, CloudTweaks is recognized as one of the leading authorities in connected technology information and services.

We embrace and instill thought leadership insights, relevant and timely news related stories, unbiased benchmark reporting as well as offer green/cleantech learning and consultive services around the world.

Our vision is to create awareness and to help find innovative ways to connect our planet in a positive eco-friendly manner.

In the meantime, you may connect with CloudTweaks by following and sharing our resources.

View All Articles

Sorry, comments are closed for this post.

Comic
InformationWeek Reveals Top 125 Vendors Taking the Technology Industry by Storm

InformationWeek Reveals Top 125 Vendors Taking the Technology Industry by Storm

InformationWeek Reveals Top 125 Vendors Five-part series details companies to watch across five essential technology sectors SAN FRANCISCO, Sept. 27, 2016 /PRNewswire/ — InformationWeek released its list of “125 Vendors to Watch” in 2017. Selected by InformationWeek’s expert editorial team, the companies listed fall into one of five key themes: infrastructure, security, cloud, data management and…

Part 1 – Connected Vehicles: Paving The Way For IoT On Wheels

Part 1 – Connected Vehicles: Paving The Way For IoT On Wheels

Connected Vehicles From cars to combines, the IoT market potential of connected vehicles is so expansive that it will even eclipse that of the mobile phone. Connected personal vehicles will be the final link in a fully connected IoT ecosystem. This is an incredibly important moment to capitalize on given how much time people spend…

Embedded Sensors and the Wearable Personal Cloud

Embedded Sensors and the Wearable Personal Cloud

The Wearable Personal Cloud Wearable tech is one avenue of technology that’s encouraging cloud connections and getting us all onto interconnected networks, and with the continued miniaturization and advancement of computing the types of wearable tech are always expanding and providing us with new opportunities. A few years ago, smartwatches were rather clunky devices with…

SWIFT Says Bank Hacks Set To Increase

SWIFT Says Bank Hacks Set To Increase

Bank Hacks Set To Increase SWIFT, whose messaging network is used by banks to send payment instructions worth trillions of dollars each day, said three clients were hacked over the summer and cyber attacks on banks are set to increase. The theft of $81 million in February from Bangladesh’s central bank using SWIFT messages rocked…

Security: Avoiding A Hatton Garden-Style Data Center Heist

Security: Avoiding A Hatton Garden-Style Data Center Heist

Data Center Protection In April 2015, one of the world’s biggest jewelry heists occurred at the Hatton Garden Safe Deposit Company in London. Posing as workmen, the criminals entered the building through a lift shaft and cut through a 50cm-thick concrete wall with an industrial power drill. Once inside, the criminals had free and unlimited…

Three Factors For Choosing Your Long-term Cloud Strategy

Three Factors For Choosing Your Long-term Cloud Strategy

Choosing Your Long-term Cloud Strategy A few weeks ago I visited the global headquarters of a large multi-national company to discuss cloud strategy with the CIO. I arrived 30 minutes early and took a tour of the area where the marketing team showcased their award winning brands. I was impressed by the digital marketing strategy…

Ending The Great Enterprise Disconnect

Ending The Great Enterprise Disconnect

Five Requirements for Supporting a Connected Workforce It used to be that enterprises dictated how workers spent their day: stuck in a cubicle, tied to an enterprise-mandated computer, an enterprise-mandated desk phone with mysterious buttons, and perhaps an enterprise-mandated mobile phone if they traveled. All that is history. Today, a modern workforce is dictating how…

How Formal Verification Can Thwart Change-Induced Network Outages and Breaches

How Formal Verification Can Thwart Change-Induced Network Outages and Breaches

How Formal Verification Can Thwart  Breaches Formal verification is not a new concept. In a nutshell, the process uses sophisticated math to prove or disprove whether a system achieves its desired functional specifications. It is employed by organizations that build products that absolutely cannot fail. One of the reasons NASA rovers are still roaming Mars…

The Cloud Is Not Enough! Why Businesses Need Hybrid Solutions

The Cloud Is Not Enough! Why Businesses Need Hybrid Solutions

Why Businesses Need Hybrid Solutions Running a cloud server is no longer the novel trend it once was. Now, the cloud is a necessary data tier that allows employees to access vital company data and maintain productivity from anywhere in the world. But it isn’t a perfect system — security and performance issues can quickly…

5 THINGS TO CONSIDER ABOUT YOUR NEXT ENTERPRISE FILE SHARING SOLUTION

5 THINGS TO CONSIDER ABOUT YOUR NEXT ENTERPRISE FILE SHARING SOLUTION

Enterprise File Sharing Solution Businesses have varying file sharing needs. Large, multi-regional businesses need to synchronize folders across a large number of sites, whereas small businesses may only need to support a handful of users in a single site. Construction or advertising firms require sharing and collaboration with very large (several Gigabytes) files. Financial services…

Cloud Infographic – Interesting Big Data Facts

Cloud Infographic – Interesting Big Data Facts

Big Data Facts You Didn’t Know The term Big Data has been buzzing around tech circles for a few years now. Forrester has defined big data as “Technologies and techniques that make capturing value from data at an extreme scale economical.” The key word here is economical. If the costs of extracting, processing, and making use…

Mobile Connected Technologies – The Future Of The Healthcare Industry

Mobile Connected Technologies – The Future Of The Healthcare Industry

Mobile Connected Technologies Clinics, hospitals, and other healthcare facilities are embracing new mobile technologies in order to be more efficient in their daily tasks. With faster communication and better collaboration, clinicians can spend much less time handling medical devices and more time administering care to their patients. Industry experts are stating that mobile connected technologies…

Cloud Infographic: IoT For Automotive Deconstructed

Cloud Infographic: IoT For Automotive Deconstructed

IoT For Automotive Deconstructed The IoT automotive industry is moving rapidly with many exciting growth opportunities available. We’ve written about some of the risks and benefits as well as some of the players involved. One thing for certain as that the auto industry is starting to take notice and we can expect the implementation of a…

Shadow IT To Remain A Focus For Both Cloud Vendors And CIOs

Shadow IT To Remain A Focus For Both Cloud Vendors And CIOs

Shadow IT To Remain A Focus Shadow IT, a phenomenon defined as building internal IT systems without the official organizational approval has been a growing concern for CIOs over the last few years. In 2015, it climbed to the top of the list of the emerging IT threats, with as much as 83% CIOs reporting…

Cloud Infographic – The Internet Of Things In 2020

Cloud Infographic – The Internet Of Things In 2020

The Internet Of Things In 2020 The growing interest in the Internet of Things is amongst us and there is much discussion. Attached is an archived but still relevant infographic by Intel which has produced a memorizing snapshot at how the number of connected devices have exploded since the birth of the Internet and PC.…

4 Industries Being Transformed By The Internet of Things

4 Industries Being Transformed By The Internet of Things

Compelling IoT Industries Every year, more and more media organizations race to predict the trends that will come to shape the online landscape over the next twelve months. Many of these are wild and outlandish and should be consumed with a pinch of salt, yet others stand out for their sober and well-researched judgements. Online…