Xeround Secures $16M

BELLEVUE, Wash. -- Xeround, Inc., the developers of the industry's first distributed data grid with virtualization capabilities, today announced the Company has closed a $16 million round of Series B funding led by Ignition Partners and Trilogy Partnership. Also participating in the round were existing investors Benchmark Capital and Giza Venture Capital. The newly acquired funds will be used to increase sales and marketing activities as well as to step up research and development to advance the product roadmap.

Xeround has developed a live, scalable Intelligent Data Grid, or IDG™, which is a groundbreaking cloud computing database with true data virtualization capabilities. With Xeround's offerings, applications no longer need to know where data resides or if it is being managed with relational, hierarchical or object models. Now, applications get access to data in whatever format is needed - wherever it's needed.

"Xeround changes the paradigm of how to leverage today's infrastructure for tomorrow's business needs by exposing a service provider's pertinent data across many different infrastructures," said Adrian Smith, partner, Ignition Partners. "Their heavy investment in research and development has paid off in a solution that is non-disruptive and offers a repeatable method allowing for quicker implementations with lower cost."

Xeround Systems