RALEIGH, N.C.--(BUSINESS WIRE)--rPath, the service factory for on-demand IT, today announced it has raised $7 million in venture capital funding led by existing investors North Bridge Venture Partners and General Catalyst Partners. This represents the fourth round of financing, bringing the total capital raised to $32.5 million.
“rPath is uniquely positioned for rapid expansion in the enterprise market, following the rise of agile operations, self-service IT and enterprise cloud initiatives, all of which focus on the goal of making enterprise IT organizations responsive, flexible and low-cost service providers,” said Mike Torto, president and CEO for rPath. “We’re very pleased to continue our partnership with North Bridge and General Catalyst as we scale our business in response to demand for new approaches to delivering enterprise IT services with more speed, control and efficiency than ever before.”
rPath brings manufacturing-like efficiency to IT organizations seeking transformational improvements in the speed, cost and control of deploying and maintaining complex applications and software systems. rPath acts as a service factory for automating software system construction, image generation and lifecycle management of standardized software components and stacks across physical, virtual and cloud environments. This service factory is the foundation for agile operations, self-service IT, private and hybrid clouds, and other IT-as-a-service initiatives.
“The rise of public cloud services is shining light on what is wrong with enterprise IT today: It’s too slow, costly and inflexible,” said Michael Skok, general partner for North Bridge Venture Partners and rPath board member. “This is forcing IT to transform through automation and new self-service and elastic approaches to service delivery. rPath is at the heart of this transformation, providing a powerful and differentiated automation solution for making IT agile, flexible and cost-efficient in the age of on-demand IT.”
According to David Orfao, managing director for General Catalyst Partners and rPath board member: “We’re very pleased to continue our investment in rPath, which has all of the essential ingredients for building a very successful company: A world-class team; a proven and differentiated product; and a large and growing market opportunity.”
This announcement comes on the heels of other news over recent weeks, including:
- VMworld 2010 Best of Show Awards for which rPath was named the Finalist in the Private Cloud Computing category. This award program received over 200 nominees. Learn more about VMworld 2010 Best of Show here: http://www.rpath.com/corp/news-and-events/769-09072010.
- “The NRE Alliance,” a coalition of independent vendors delivering an integrated solution for self-service private and hybrid cloud computing. Delivered by MomentumSI, this integrated solution comprises newScale, as the IT storefront; rPath, as the automated service factory; and Eucalyptus Systems, as the elastic infrastructure. Learn more about the NRE Alliance here: www.nrecloud.com
Over coming weeks, rPath will be participating in several key industry events, including:
- CloudExpo, where rPath will be exhibiting with NRE Alliance partners newScale, Eucalyptus and MomentumSI. This takes place Nov. 1-4 in Santa Clara, Calif.
- Toward Self-Service Private and Hybrid Cloud,” an online panel discussion on the journey from IT bottleneck to IT-as-a-Service. This discussion includes James Staten VP, and principal analyst, Forrester Research; Scott Hammond, CEO of newScale; Mike Torto, CEO of rPath; and Marten Mikos, CEO of Eucalyptus Systems. This online panel takes place on Tuesday, Nov. 2 at 2:00 p.m. ET. Registration is free: http://www.rpath.com/corp/sspc-journey
- LISA ’10, a technical conference focused on management and administration of large-scale IT environments. This takes place Nov. 7-12 in San Jose, Calif.
For more information on rPath, please visit http://www.rpath.com. For additional perspectives, please visit and subscribe to rPath RSS blog feeds at http://blogs.rpath.com/wpmu/. Follow rPath on Twitter at @rpath and Facebook at http://www.facebook.com/rPathInc.
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rPath press releases and commentaries: http://www.rpath.com/corp/news-and-events
rPath videos and podcasts: http://www.rpath.com/corp/audio-and-video
rPath Cloud Computing Adoption Model: http://www.rpath.com/corp/cloud-adoption-model
rPath Knowledge Center: http://www.rpath.com/corp/browse-resources
rPath webinars: http://www.rpath.com/corp/webinar
rPath automates system deployment and maintenance across physical, virtual and cloud environments. rPath’s innovative release automation platform is based on the industry’s only commercial version control repository for managing deployed software systems. The result is an easy-to-deploy and cost-effective automation solution for rapid, low-risk and low-overhead deployment and maintenance of complex software systems. rPath dramatically improves responsiveness to business lines, reduces compliance risks, and allows resource-constrained IT organizations to significantly reduce operating costs and “do more with less.” Headquartered in Raleigh, N.C., rPath customers including some of the world’s largest enterprises and ISVs. Visit www.rpath.com.
rPath is a registered trademark of rPath. All other brand names and product names are trademarks or registered trademarks of their respective companies.
Tags: rPath, funding, venture capital, IT-as-a-service, self-service IT, private cloud, hybrid cloud, internal cloud, enterprise cloud, NRE Alliance, enterprise IT, release automation, service factory, virtualization, data center automation, application deployment, unified automation and control, system version control, deep system modeling