Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

GigaSpaces Grabs More

Startup GigaSpaces Technologies Ltd. has clinched an additional $3 million in Round B funding to support the launch of its new grid virtualization software.

The cash influx is an add-on to the $3 million GigaSpaces received earlier this year and brings the startup's total funding to $8.5 million. Investors include BRM Capital, Intel Capital, and Formula Vision (see GigaSpaces Grabs $3M).

The round corresponds with growing momentum in grid computing, which enables compute, network, and storage resources to be shared across an IT infrastructure. Recent news shows both vendors and governments putting their weight behind the technology (see Sun Grid Gets Thumbs Up and EC Goes for the Grid).

GigaSpaces' contribution to grid computing is Enterprise Application Grid (EAG) software that uses virtualization to create a kind of middleware for processing database and other transaction-oriented applications. By using virtualization, EAG saves enough processing power to allow programs to run on commodity hardware across distributed grid architectures.

GigaSpace's message appears to be getting through to users -- the company claims 35 customers, up from 25 earlier this year. Some 60 percent of these are in financial services, execs say, and around 30 percent are in telecom, with the remainder in the U.S. "Defense" sector.

  • 1