PHILADELPHIA--(BUSINESS WIRE)--PHD Virtual Technologies, a pioneer in virtual machine backup and recovery, and innovator of virtualization monitoring solutions, announced today that it has raised $4 million recently with $2 Million in Series C funding led by Insight Venture Partners and Citrix (NASDAQ: CTXS), both current investors in the company, and a $2 million venture debt financing from Wellington Financial. Funds secured will be used to fuel technology innovation and drive sales, expansion into Europe and product development initiatives.
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“With a consistent record quarter over quarter growth we are excited others validate our position in the virtual and cloud backup arena and see the huge potential in our growing business and the vast opportunity in this market segment,” said James Legg, President and CEO, PHD Virtual. “We truly value our partners in Insight, Citrix and Wellington and appreciate the confidence they have in our ability to continue to expand our efforts and surpass the 10,000 customer mark.”
PHD Virtual’s unique Virtual Backup Appliance (VBA) design makes the critical difference in providing Citrix and VMware backup software solutions that delivers the absolute best value in Virtual Backup and Replication. Based on a 100% virtualized footprint, its VBA deploys and is managed directly from the XenServer® hypervisor without requiring any physical servers or additional software.
“PHD Virtual has carved a big niche by appealing to Citrix administrators who are responsible for managing virtual and cloud environments,” said Andy Cohen, vice president, Strategic Development and Investments, Citrix. “We believe the opportunities for Citrix customers will continue to expand exponentially and PHD Virtual is perfectly positioned for that opportunity. Citrix continues to see great prospects for this business.’’
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About Insight Venture Partners
Insight Venture Partners is a leading venture capital and private equity firm investing in on-premise and SaaS-based software, eCommerce, internet and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide founders with practical, hands-on growth expertise to foster long-term success. For more information, visit insightpartners.com
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in Toronto, Canada, and Santa Monica, California. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada’s largest institutional investors, pension funds, family offices and crown corporations. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
About PHD Virtual Technologies
PHD Virtual provides the absolute best value in virtual backup and monitoring for VMware and Citrix platforms. More than 5,000 customers worldwide rely on our products because they are effective, easier to use and far more affordable than competitive alternatives. Delivering the highest performance and most scalable cross platform backup and monitoring solutions on the market and pioneer of Virtual Backup Appliances (VBAs), PHD Virtual Technologies has been transforming data protection for virtual IT environments since 2006. Its PHD Virtual Monitor provides a complete, end-to-end solution for monitoring virtual, physical and application infrastructures in VMware and Citrix environments. For more information, please visit: http://www.phdvirtual.com/