The server virtualization market that has been so much in play lately brought about another deal today, when Egenera Inc. announced it had secured $30 million in a fourth round of equity financing.
The Marlborough, Mass.-based startup has raised $124 million in venture capital funding since its 2000 inception, and CFO Tom Sheehan says the company is on track to look at an IPO this year. Egeneras fourth round was led by Technology Crossover Ventures (TCV), whose general partner Rick Kimball will sit on Egeneras board of directors.
Egeneras blade servers and server virtualization software is complementary to the technology of recently acquired VMware and Ejasent. EMC Corp. (NYSE: EMC) purchased VMware for $635 million in December; and Veritas Software Corp. (Nasdaq: VRTS) announced plans to buy Ejansent for $59 million last week (see EMC Gobbles VMware and Veritas Nabs Ejasent). Egenera bundles VMware GSX Server software with its BladeFrame system.
Sheehan says the funding reflects the energy in the segment. This is further validation of this whole virtualization space were playing in, Sheehan says.
Sheehan says Egenera will use the funding on global expansion and product development. He says the company will likely add 50 people over the next year -- mostly in sales, service, and support -- to its current 225 employees. Egenera is targeting expansion into the London, Tokyo, and Hong Kong markets where it has been selling, along with Germany and other locations in the Asia/Pacific region.
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