Adaptive Computing Secures $14 Million Investment to Expand Global Cloud Computing Business
Source: Adaptive Computing
Series A Round to Fuel and Support Growth for Leader in Intelligent Automation Software for Cloud, Data Center and HPC Environments
PROVO, UTAH (September 14, 2010)—Adaptive Computing, the company behind the Moab® unified automation intelligence technology, today announced the completion of its Series A round of financing, securing $14 million from Intel Capital, which served as the lead investor, Tudor Ventures and EPIC Ventures. Adaptive Computing’s initial round of funding, after nine years of consistent profitable growth as a company, will be used to further accelerate the company’s ability to meet the rapid increase in customer demand for cloud automation intelligence.
“As cloud computing demand has continued explosive growth, Adaptive Computing and its partners have applied Moab’s unique competitive advantage of upgrading static self-service cloud projects to rich self-optimizing or intelligent workload-driven clouds,” said Michael Jackson, COO and president of Adaptive Computing. “With an established global customer base and a cloud pipeline filled with opportunity, the new funding will enable the company to increase headcount and expand operations to meet the growing global demand.”
Adaptive Computing’s solutions, powered by Moab, deliver intelligent governance that allows customers to optimally consolidate and virtualize resources, allocate and manage applications, improve service levels, and reduce operational costs. Since Adaptive Computing’s founding in 2001 (as Cluster Resources Inc.), the company’s Moab products have managed the world’s largest computing installations and are the preferred intelligent automation solutions for the leading global data center vendors.
“Adaptive Computing’s solutions are well-positioned to play an important role upgrading enterprise data centers to intelligent, self-optimizing cloud environments,” said Steve Eichenlaub, managing director of Intel Capital. “Our investment in Adaptive Computing is consistent with Intel Capital’s belief that intelligent policy management will play a critical role in the next phase of cloud automation.”
“We are excited to work closely with Adaptive Computing to realize the tremendous opportunity in front of them. Cloud computing is a natural extension of the virtualization wave that is rapidly transforming enterprise data centers, and Adaptive Computing’s Moab product is a clear leader in intelligent cloud management software as evidenced by significant customer wins and its deep reseller and OEM partnerships,” said Jon Danielson of Tudor Ventures.
“While the first wave of cloud computing has been centered on virtualization, the next wave of managing the complexity of cloud-based workloads and resources is a much bigger problem to solve,” said Chris Stone, managing director of EPIC Ventures. “Adaptive Computing is the solution to taming this complexity, and we at EPIC Ventures are pleased to have the opportunity to make it a standard in the cloud computing market.”
About Adaptive Computing
Adaptive Computing provides intelligent automation software for HPC, data center and cloud environments. The company’s infrastructure intelligence solutions, powered by Moab®, deliver policy-based governance, allowing customers to consolidate and virtualize resources, allocate and manage applications, optimize service levels and reduce operational costs. Adaptive Computing products manage the world’s largest computing installations and are the preferred intelligent automation solutions for the leading global HPC and data center vendors. For more information, call Adaptive Computing at (801) 717-3700 or visit www.adaptivecomputing.com.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.5 billion in over 1,050 companies in 47 countries. In that timeframe, 175 portfolio companies have gone public on various exchanges around the world and 241 were acquired or participated in a merger. In 2009, Intel Capital invested US$327 million in 107 investments with approximately 50 percent of funds invested outside the United States and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com
Founded by Zions Bank in Salt Lake City in 1994, EPIC Ventures is a premier venture firm focused on early stage technology investments in internet infrastructure, software, cloud and mobile services. With over $250m under management, EPIC helps to create companies, not just fund them. EPIC’s Fund IV is actively investing in creating the country’s future information economy. For more information, please visit www.epicvc.com.
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