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.

Four FinTech Trends To Look Out For

Four FinTech Trends To Look Out For

FinTech Trends The fintech industry witnessed an enormous growth in 2015. Around $7.6 billion were invested in fintech companies last year, a substantial increase from the $4.7 billion in 2014. There is no doubt that this momentum will continue this year. The growth of capital being invested in fintech companies illustrates how technology and the…

The Cloud on Your Terms – What to look for in an EFSS Provider

The Cloud on Your Terms – What to look for in an EFSS Provider

The Cloud on Your Terms Your company has a mandate to go to the cloud and now it’s time to decide which services to use to help your business grow. You might be wearing several hats or you might be a dedicated IT professional and the responsibility has now been handed to you. So what…

Small Technology Providers (STPs) — VARs, ISVs, Integrators, And SME Consultants

Small Technology Providers (STPs) — VARs, ISVs, Integrators, And SME Consultants

Small Technology Providers (STPs) Continuation from last weeks article. See the article here  Here’s the opportunity for little / middle guy.  It’s funny, I’m a big networker and I can’t tell you how many conversations I’ve had with IT folk across all these specialty functions and everyone says the same thing:   They all felt like…

‘Tis The Season To Be Deploying Sensors

‘Tis The Season To Be Deploying Sensors

Deploying Sensors Overhead the Christmas Drones are buzzing, delivering packages to the good girls and boys. Back at the main location people are analyzing the good and bad data collected over the year about each person. Data analytics that is creating a list, gathering all the data and then checking the data on that list…

From Startup To Becoming Enterprise Grade

From Startup To Becoming Enterprise Grade

Becoming Enterprise Grade How can an emerging business make a successful transition from selling to SMB customers that fueled their early growth to the enterprise customers that enable long-term profitability? What works with SMB customers often won’t get you a seat at the enterprise table. To make deep inroads into enterprise accounts, you have to…

Hybrid IT Matures Just In Time To Tackle Complex Challenges

Hybrid IT Matures Just In Time To Tackle Complex Challenges

Tackling Complex IT Challenges Sponsored by Hybrid IT: The Next Evolution in Enterprise IT, NetApp and Verizon. Today’s sophisticated business environment demands a dynamic and robust IT infrastructure which is a far cry from the closed, controlled environments that most IT departments were created to handle. A hybrid IT infrastructure, drawing services from multiple cloud-based…

Featured Sponsored Articles
The Benefits of Cloud-Based Phone Systems

The Benefits of Cloud-Based Phone Systems

Cloud-Based Phone Systems This article has been sponsored by RingCentral, provider of state-of-the-art cloud infrastructure. Although today’s businesses rely on a host of modern technology, the century-old telephone call is as essential as ever. Of course, businesses today aren’t relying on simple analog voice calls for effective interaction with partners, suppliers, colleagues, and customers, but…

Featured Sponsored Articles
Working With Cloud White Label Partners

Working With Cloud White Label Partners

Cloud White Label Services Sponsored by CloudMGR The benefits of consolidating your cloud to one of the giants such as AWS, Microsoft Azure, and Google Cloud are improving as competition increases, with pricing wars between the service providers meaning better savings for businesses utilizing these services, and an abundance of features at user fingertips as…

Featured Sponsored Articles

CloudTweaks is recognized as one of the leading influencers in cloud computing, infosec, big data and the internet of things (IoT) information. Our goal is to continue to build our growing information portal by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

Sponsor