{"id":2103,"date":"2012-06-12T16:38:00","date_gmt":"2012-06-12T16:38:00","guid":{"rendered":"http:\/\/cloudnewsdaily.com\/?guid=afe34325144d2eaf7e7f08450a784b24"},"modified":"2012-06-12T16:38:00","modified_gmt":"2012-06-12T16:38:00","slug":"embotics-gets-8-4-million-for-private-cloud-management","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/embotics-gets-8-4-million-for-private-cloud-management\/","title":{"rendered":"Embotics Gets $8.4 Million for Private Cloud Management"},"content":{"rendered":"<\/p>\n

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Private cloud management vendor\u00a0Embotics Corporation today announced that it has closed $8.4 million in equity financing. Bringing Embotics\u2019 total financing-to-date to $18 million, this latest round includes $2.5 million from VentureLink LP and $2.5 million from Covington Fund II Inc. (Covington), with the remainder of the funds coming from other private investors. Embotics will use the funding to accelerate global sales and marketing efforts, as well as to hire more software engineers. <\/span><\/p>\n

This mix of pragmatic growth, strategic marketing and sales investments will build upon the momentum of the past year\u2019s 300 percent growth in sales to further strengthen Embotics V-Commander\u2019s leadership position in the private cloud management market.<\/p>\n

\u201cWe continue to support Embotics because of its proven track record of successfully developing products that address the problems in virtual data center environments,\u201d\u00a0said Phil Reddon, managing partner of Covington. \u201cOur experience investing in the virtualization sector, along with Embotics\u2019 success in assisting companies with private cloud management, automation and self-service provisioning<\/a>, make for a smart business and investment partnership between our two organizations.\u201d<\/p>\n

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\u201cWe have a strong belief in Embotics and its virtualization and cloud management technology<\/a>. Due to the market need for its solutions, we are confident that Embotics\u2019 business will continue to grow,\u201d said Jim Whitaker, managing partner of VentureLink LP. \u201cEmbotics\u2019 clear differentiation in cloud management made its business and this opportunity very attractive to us.\u201d<\/p>\n

This round of financing comes on the heels of Embotics\u2019 most successful year to date. The company has experienced 300 percent growth in sales over the past year and 220 percent year-on-year growth in new customers, which now include Bell, Deloitte, Cisco, CSC, Dutch Ministry of Defence, MITRE and numerous universities and public sector departments. In addition, Embotics has signed new channel partnerships, including one with Magirus in Europe.<\/p>\n

\u201cWe are thrilled to continue our partnership with Covington and to begin our new relationship with VentureLink because of their proven success when it comes to supporting technology innovation,\u201d said Jay Litkey, CEO of Embotics. \u201cThe significant increase in our sales demonstrates the opportunity that exists in the market. This financing will enable us to match that opportunity with clearly defined differentiation, corresponding sales and an increased engineering team to support new and existing customer opportunities.\u201d<\/p>\n

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Investment to Boost Global Sales, Marketing Efforts and Expand Software Engineering Team OTTAWA, Ontario–(BUSINESS WIRE)–Embotics Corporation, a leader in virtualization and private cloud management, today announced t…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[505,506,47,507,54,303,508],"tags":[],"class_list":["post-2103","post","type-post","status-publish","format-standard","hentry","category-deloitte","category-embotics","category-it-management","category-magirus","category-private-cloud","category-venture-funding","category-venturelink-lp"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/2103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=2103"}],"version-history":[{"count":0,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/2103\/revisions"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=2103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=2103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=2103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}