virtustream

Virtualization Startup Virtustream Raises $15M From Intel Capital And Others

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Virtualization startup Virtustream has raised $15 million in funding from Intel Capital, Columbia Capital, Noro-Moseley Partners, TDF and QuestMark Capital. This brings Virtustream’s total funding raised to $75 million.

Virtustream provides strategy, integration and managed services utilizing virtualization technologies, and xStream, the company’s cloud provisioning platform. xStream platform was built to address the exacting requirements of enterprise customers as they move their IT and applications to the cloud.

xStream basically allows enterprise customer to access highly elastic cloud computing resources at a consumption-based pricing model, similar to Amazon EC2. The company aims to help enterprises manage private, virtual private, public and hybrid clouds.

The startup says the additional funding will for product development of xStream as well as to expand Virtustream geographic coverage. Virtustream plans to enhance xStream with cloud federation and cloud exchange capabilities combining private clouds, virtual private clouds and public clouds.