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DynamicOps Secures $5 Million in Funding from Intel Capital
Sep 08, 2011 (04:09 PM EDT)
Intel Capital's Addition to Existing B Round Underscores Strength of DynamicOps' Cloud Leadership
BURLINGTON, Mass., Sept. 8, 2011 /PRNewswire/ -- DynamicOps, the only provider of the Operations Virtualization™ platform enabling unified cloud automation and management, today unveiled that it has secured $5 million in funding from Intel Capital. Intel Capital has added to the company's previously announced $11 million Series B round, which was originally led by Sierra Ventures and included Next World Capital. DynamicOps is using the capital from the extended B round to fund global sales, marketing and development of its enterprise cloud solutions.
"Intel is a trusted advisor to the IT industry and world-renown for innovations that profoundly impact the way businesses operate. The fact that, after exploring the many players in enterprise cloud computing, Intel Capital chose to invest in DynamicOps, speaks volumes about the strength of our approach and our ability to execute on our vision. We're excited to be part of the Intel ecosystem," said Rich Krueger, CEO of DynamicOps.
"Many of the world's largest enterprise customers are evolving from virtualized servers to highly-elastic, scalable private clouds for better operational agility, faster deployment of applications and, ultimately, better support for their customers," said Lisa Lambert, vice president, Intel Capital. "DynamicOps provides a best-in-class software platform to transform existing infrastructure and applications to an on-demand, scalable cloud fabric with unprecedented speed and flexibility, and fits well within Intel's Open Datacenter and CloudBuilder vision."
The investment from Intel Capital funding follows a series of achievements for DynamicOps, including two coveted industry accolades—'Best of VMworld 2011' for private cloud and 'Gartner Cool Vendor for Cloud Management'—as well as record business growth. DynamicOps' revenue more than doubled and new customer acquisitions grew by 300% in the first half of 2011 compared to the same period last year. DynamicOps' success stems from the increased market demand for cloud solutions and growing traction for the DynamicOps Cloud Automation Center, a next-generation solution that enables enterprises to create and extend private and hybrid clouds with unparalleled simplicity and speed. The company has seen increased adoption across general business, healthcare, government and educational verticals, with recent new customers including IRS, Northeastern University, Turner Broadcasting, Telereal, NYU Medical, and others.
DynamicOps provides an Operations Virtualization™ platform that enables enterprise IT to evolve existing infrastructure into on-demand private and public cloud services in days, achieving unparalleled time-to-cloud and responding to market dynamics faster and more economically than ever. Enterprises imprint their own way of doing business on the cloud by leveraging existing, cross-organizational processes while having the freedom to easily interchange technologies, creating a best-of-breed, multi-vendor solution. DynamicOps Cloud Automation Center unifies the management ecosystem providing end-to-end governance, self-service capabilities and an orderly extension to the public cloud. Using DynamicOps Cloud Development Kit™, enterprise IT is furthered empowered to create next-generation cloud services. Recently named "Cool Vendor in Cloud Management" by Gartner Research, DynamicOps is privately held and based in Burlington, MA. www.dynamicops.com.