PlateSpin Secures Funding From Canadian and American Sources
📅 - PlateSpin Inc. (platespin.com), a Toronto-based developer of server infrastructure management software, announced on Tuesday that it had secured $1.9 million US in strategic investment funding from Canadian technology investment fund, VentureLink (venturelinkcorp.com) and San Jose, California-based networking and communications investment firm Raza Foundries (razafoundries.com).
According to PlateSpin, the new funding will be used to be further product development and company growth. And the company says the backing shows support for PlateSpin's technology, and the company's efforts to develop a better and more cost-effective way to manage large server networks.
?PlateSpin's software management solutions are targeted at enterprises who have seen their technology infrastructures grow rapidly, resulting in information networks that have become more complex, costly and resource-intensive to manage,? said Atiq Raza, Chairman and CEO of Raza Foundries Inc.
PlateSpin's software is designed to allow enterprises and service providers operating large server networks to improve operational efficiencies by reducing the time and costs involved in managing software in distributed server networks. The company's Operations Center software is a system designed to centrally automate the deployment of server software and manage the ongoing life cycle of that software, including monitoring, tuning, upgrades and migration, through one web-based interface.
?Infrastructure management remains one of the fastest growing segments of the high-tech industry,? says Mark Verdun, president and CEO of PlateSpin. ?We are excited to provide enterprises with a product that reduces server operation costs and improves IT productivity. These investments illustrate that even in a tough investment climate, companies with value-driven technology and a strong leadership team can secure funding.?
The company was founded in 1999, and its original $7.5 million US of Series A funding came from a group of venture capital companies and private equity investors, including Altamira Investment Management, the Intel 64 Fund, CastleHill Ventures and A-LIVE Holdings.
According to PlateSpin, the new funding will be used to be further product development and company growth. And the company says the backing shows support for PlateSpin's technology, and the company's efforts to develop a better and more cost-effective way to manage large server networks.
?PlateSpin's software management solutions are targeted at enterprises who have seen their technology infrastructures grow rapidly, resulting in information networks that have become more complex, costly and resource-intensive to manage,? said Atiq Raza, Chairman and CEO of Raza Foundries Inc.
PlateSpin's software is designed to allow enterprises and service providers operating large server networks to improve operational efficiencies by reducing the time and costs involved in managing software in distributed server networks. The company's Operations Center software is a system designed to centrally automate the deployment of server software and manage the ongoing life cycle of that software, including monitoring, tuning, upgrades and migration, through one web-based interface.
?Infrastructure management remains one of the fastest growing segments of the high-tech industry,? says Mark Verdun, president and CEO of PlateSpin. ?We are excited to provide enterprises with a product that reduces server operation costs and improves IT productivity. These investments illustrate that even in a tough investment climate, companies with value-driven technology and a strong leadership team can secure funding.?
The company was founded in 1999, and its original $7.5 million US of Series A funding came from a group of venture capital companies and private equity investors, including Altamira Investment Management, the Intel 64 Fund, CastleHill Ventures and A-LIVE Holdings.
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