6fusion, a Durham, N.C.-based company that has developed an algorithm that simplifies the metering, consumption and billing of compute resources, has raised $3m in first institutional venture capital financing led by Intersouth Partners.In conjunction with the funding round, the company has moved its headquarters to the Research Triangle region of North Carolina. 6fusion will be temporarily housed at Intersouth’s offices in Durham until it finalizes its new headquarters location.
The new capital and will be used to add to its senior executive team and expand research and development as the company continues to scale.
Commenting on the funding, John Cowan, co-founder and CEO of 6fusion, said: “Intersouth is an important part of our future and will be a crucial partner in helping to enable our success in what has become a quickly evolving industry”.
In connection with the round, Katrin Burt and Mitch Mumma of Intersouth will join 6fusion’s board of directors.
The company’s algorithm, called the Workload Allocation Cube (WAC), is a granular and universal metric for metering and delivering Infrastructure-as-a-Service (IaaS). 6fusion has also developed a platform, called UC6, which provides a single pane-of-glass user interface for customers to dynamically provision cloud workloads internal or external to their organization.
FinSMEs
23/08/2010