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SWsoft Secures $12.4 Million Financing.
2005-06-15, HostMan.biz Web hosting automation software developer SWsoft (sw-soft.com) announced on Wednesday that it had closed a $12.4 million round of financing from Insight Venture Partners, Bessemer Venture Partners and Intel Capital. According to SWsoft, the funding is the first institutional investment in the company. Previously, SWsoft's was financed privately by its founders. "The company represents a compelling opportunity due to its experienced management team and its track record of several years of strong revenue performance and profitability," says Mike Triplett, managing director at Insight Venture Partners. Serguei Beloussov, chairman and CEO for SWsoft, says the company will use the proceeds to pursue acquisition opportunities, broaden partnerships and attract sales and marketing personnel. "This round of investment represents an important milestone for our company in moving to the next stage," says Beloussov. "We have selected these investors due to their complementary strengths and strong track records in both the hosting and enterprise markets." SWsoft also announced that it had formed a technology and marketing partnership with Intel (intel.com). The two companies plan to work together in the virtualization field. "SWsoft provides attractive and efficient virtualization and dynamic resource management software," says Steve Pawlowski, Intel's Digital Enterprise Group CTO and Intel senior fellow. "Working in conjunction with Intel virtualization technology and Intel active management technology, this software may provide a way to extend the server virtualization model across the data center for increased reliability, enhanced flexibility and lower TCO." |
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