GLENWOOD, Md. -- Fortisphere, a provider of enterprise virtual machine lifecycle management software, today announced that it has closed $10 million in series A round funding. The round was co-led by Fairhaven Capital Partners and Globespan Capital Partners. The company will use the funding to further product development, grow its sales team and increase its market visibility.
IDC predicts that the virtualization market will reach $11.7 billion over the next four years and that by the end of this year, about half of the worlds 4.2 million servers will be virtualized, said Paul L. Ciriello, managing partner, Fairhaven Capital Partners. While this dramatic growth has resulted in cost and operational gains for companies, it has also triggered a need for data center management tools purpose-built for virtualized environments. Fortisphere fills this urgent market need by providing a unique means for organizations to more efficiently manage their virtual machine deployments.
Fortisphere empowers enterprises to more intelligently grow their virtual machine deployments by providing the visibility, granular control and best practices required to ensure virtualized environments operate efficiently, effectively and securely. By tracking, reporting and managing both online and offline virtual machines, Fortisphere helps accelerate virtualization adoption.
Fortisphere has assembled an accomplished management team of technology industry veterans with proven track records of bringing successful IT solutions to market, said Dave Fachetti, managing director, Globespan Capital Partners. Through our CIO Advisory Board, we have identified a number of emerging IT issues related to virtual machine growth, presenting a unique market opportunity for companies with the right vision, leadership and technology innovation. We look forward to working with Mike and his team as they deliver world-class solutions to address the emerging management challenges associated with virtualization.