CiRBA Secures $15 Million To Fuel Growth
Record revenues achieved in 2011 as enterprise customers control capacity and automate management of virtualized and cloud infrastructure with CiRBA's software.
TORONTO – March 27, 2012 -CiRBA Inc., today announced it has raised $15 million in its third round of institutional funding led by Tandem Expansion Fund. Existing investors Sigma Partners and Edgestone Capital Partners also participated in the deal. The growth round of financing follows a series of enterprise-wide sales to some of the largest financial institutions in the world. These enterprise customers helped CiRBA achieve record software bookings in 2011.
CiRBA software provides intelligent control for infrastructure. CiRBA:
- controls workload placements, resource allocations and capacity reservations, and
- enables automation by distributing intelligent commands that optimize infrastructure and reduce operational risks to existing management solutions.
IT organizations are facing a new level of complexity in these dynamic environments. Without continuous predictive intelligence to control and automate infrastructure management, IT organizations will be unable to deliver promised efficiencies and will introduce operational risk.
"Our extensive investigation into the cloud and virtualization management software market clearly shows the need for a control system; software to help deliver the promised efficiencies and drive automation. CiRBA is far ahead of other software products both in terms of capability and customers with enterprise deals of up to 100,000 servers. We feel we have made a great investment and look forward to supporting their growth", said Chris Legg, Managing Partner, Tandem Expansion Fund.
"Tandem understands and supports high growth and innovative companies, and I am pleased to have them on our team, including one of the founding partners of Tandem, the technology entrepreneur Charles Sirois. I am also very pleased that our existing VCs, Sigma and Edgestone, continue to support CiRBA's growth through additional investment. CiRBA is fortunate to have such a great group of investors," said Gerry Smith, president and CEO, CiRBA.