Evergrid Secures $10 Million in Private Funding
FREMONT, Calif., May 21 /PRNewswire/ -- Evergrid, Inc., a provider of global resource management software for next generation data centers, today announced that it has secured $10 million in a Series B funding round led by top-tier venture capital firm Menlo Ventures. Also participating in the new funding is current investor Acartha Group LLC.
FREMONT, Calif., May 21 /PRNewswire/ — Evergrid, Inc., a provider of global resource management software for next generation data centers, today announced that it has secured $10 million in a Series B funding round led by top-tier venture capital firm Menlo Ventures. Also participating in the new funding is current investor Acartha Group LLC.
Evergrid's new continuous availability and resource management software is designed for large datacenters. As the number of processors in the datacenter grows, reliability and utilization become serious problems. Reliability of the system inevitably decreases as the number of servers increases. And at high scale, managing to high levels of utilization while guaranteeing customer service levels is extremely difficult. Evergrid addresses both the availability and utilization issues with a vertical management system that optimizes datacenter resources from power-on all the way to application load management.
"Evergrid provides the next generation software infrastructure for the global data centers of tomorrow. There is no other vertical solution in the market that manages all the aspects of large clustered datacenters," said John Jarve, managing partner, Menlo Ventures. "Many companies manage part of the datacenter, but Evergrid solves both the availability and utilization problems that large clustered centers experience as they grow."
"Evergrid gained a much valued partner today in John Jarve and Menlo Ventures," said BJ Arun, Evergrid's chairman and co-founder. "We plan to fully leverage John's experience as an accomplished value-added investor to help us build Evergrid into a market leader."
"This substantial investment from Menlo Ventures and Acartha Group validates both our technology and our market direction," said Dave Anderson, Evergrid's CEO. "Data centers want to optimally schedule high-priority jobs on pools of commodity servers that can quickly recover from inevitable failures. There are other companies out there that tackle parts of this problem, but our customers tell us nobody else optimizes all the issues that face their users."
About Evergrid, Inc.
Evergrid, a provider of global resource management software for next generation datacenters, lets massively parallelized, distributed applications run properly on high performance cluster grids, at near 100 percent reliability. Evergrid's fault tolerant application virtualization software prevents downtime, automates checkpoint, migration, and recovery of applications, and scales to thousands of nodes, with less than five percent performance overhead.
Evergrid's leadership team brings extensive management and technology expertise from IBM, Amdahl, VERITAS, Motorola, Tandem Computers and the Virginia Polytechnic Institute and State University. Evergrid is a private company that is funded, in part, by Menlo Ventures and the Acartha Group. For more information, visit http://www.Evergrid.com.
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SOURCE Evergrid, Inc.