Virtustream, Inc., a Washington, D.C.-based infrastructure services firm, has closed a Series A round of equity financing with approximately $40m in total capital.
This latest funding, which completes the Series A funding started by Columbia Capital and Blue Lagoon Capital, comes from Intel Capital, Noro-Moseley Partners and TDFunds.
The funding will be used to support the continued development of Virtustream’s infrastructure and the expansion of the xStream cloud computing platform.
Introduced in March, xStream is the first hybrid enterprise cloud platform with guaranteed compute resources across aggregate client workloads whether hosted in the company’s data center or installed on a customer’s premise.
Based on Virtustream’s more than nine years of virtualization experience, the xStream platform increases operational efficiency and improves business continuity, typically delivering a 40-60 percent ROI without employee headcount reduction.
The company also has offices in London, Dublin and the Channel Islands.