Fleet: VMTurbo accelerates momentum with record Q1

VMTurbo, the leading provider of software-defined control for cloud and virtualized environments, has announced that the company has closed a series C funding round led by Globespan Capital. VMTurbo’s funding now totals $25 million, with key investments coming from Globespan Capital, and previous investors Bain Capital Ventures and Highland Capital Partners. 

“Bringing a world-class partner like Globespan on board enables us to be even more aggressive in capturing the huge market opportunity in front of us,” said N. Louis Shipley, president and chief executive officer at VMTurbo. “The new funding will help accelerate our sales and marketing efforts, and ongoing product innovation.

"We continue to solidify our footing in the industry by delivering unique solutions that change the way companies operate cloud infrastructures and virtual data centers – driving down operational and capital costs by providing intelligent automation and control.”

The company’s recent milestones include more than 150% year-on-year growth in Q1 revenue, tripling the number of customers in the calendar year, and securing key strategic partnerships including VCE and NetApp. Additionally, VMTurbo expanded its strong presence in the service provider market by signing IDC Frontier and KPN as customers, joining a list that includes CSC, BT, LayeredTech, Internet Solutions and many others.

The company has also recently been issued two patents. Assigned on March 12, 2013, the first patent highlights the methods, systems and apparatus for the economic abstractions that drive VMTurbo's Operations Manager. The second patent, awarded on April 30, 2013, is for leveraging economic principles in Operations Manager to manage IT environments.