Cloud Migration Company, Racemi, Announces $10 Million Series C Funding
Mainstream adoption of cloud computing fuels significant market growth and demand for migrations
ATLANTA, July 2, 2014-- Racemi, a provider of automated server migration software, has closed a $10 million Series C round of venture financing.
The round included new investors, led by Milestone Venture Partners, along with existing investors Harbert Venture Partners, and Paladin Capital Group.
The funds will be used to further scale Racemi sales, services and engineering to meet growing demand for its cloud migration software, which automates the process of migrating workloads to public, private and hybrid clouds.
"The increasing adoption of cloud computing presents a tremendous opportunity for Racemi and this round will help accelerate our efforts to enter new markets and deliver the truly unique capabilities of our solution," said Lawrence Guillory, CEO, Racemi. "We are continuing to build on our momentum and strong growth. In the past year, we announced partner agreements with IBM, Phoenix NAP, Windstream, plus others while strengthening our partnerships with Amazon Web Services and VMware, as well as successfully expanding into the European and Asia-Pacific markets."
The Racemi server imaging technology quickly clones server workloads between dissimilar physical, virtual or private cloud platforms, reducing the migration process from days to minutes. The Racemi software captures the entire server stack--including operating system, applications, and configuration--and automatically converts it to run on the target platform by applying the necessary tools and drivers during the migration process. This ensures existing workloads are migrated in their time-tested configuration, which leads to better reliability and ability to be supported. Racemi has the broadest range of physical, virtual and cloud platforms coverage in the industry (listed here).
"There are two strong forces propelling Racemi growth - one is the overall markets' increasing adoption of cloud computing and the other is market validation of Racemi's technology for the rapid migration of workloads into public, private, and hybrid clouds," said Morgan Rodd, of Milestone Venture Partners. "We, along with Racemi's other investors, want to ensure that Racemi has no barriers to realizing its potential."
The company closed a $7 million Series B round of venture financing in July 2012.
Racemi, the moving company for the cloud, has been named a "Cool Vendor" and has thousands of customers, users, and partners around the globe. The company builds server provisioning and cloud migration technology that allows businesses to quickly migrate their existing physical and virtual servers between dissimilar physical, virtual, and cloud platforms and across geographies. For CSPs (cloud service providers), MSPs (managed service providers), and hosting providers, Racemi is the easiest, most reliable method for onboarding customers to their public, private, or hybrid cloud offering. Racemi also enables customers and partners to automate private data center provisioning by leveraging its market-leading server imaging technology to rapidly provision physical, virtual or private cloud servers in any automated use case. For more information, visit www.racemi.com.
Racemi, the moving company for the cloud, are marks of Racemi. All other trademarks referenced herein are the property of their respective owners.
Glenn Rossman, Baker Communications Group, 914-623-8354, Racemi@bakercg.com
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