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rPath Clinches $10M in Funding

RALEIGH, N.C. -- rPath today announced that the company has closed a $10M round of venture financing. The Series C round was led by rPath’s existing backers, General Catalyst, North Bridge Venture Partners and Wakefield Group. The company plans to use this new capital to increase its leadership in enabling cloud computing.

Merrill Lynch’s recent research note titled, “The Cloud Wars: $100+ billion at Stake,” cites cloud computing has the potential to shower billions in revenues on companies that embrace it. According to Merrill Lynch, the burgeoning technology concept is seen as a $160-billion addressable market opportunity, including $95-billion in business and productivity applications, and another $65-billion in online advertising.

“As the demand for cloud computing continues to explode, rPath is in a unique position to drive adoption as the fastest and most scalable approach for delivering applications to cloud computing environments such as Amazon’s Elastic Compute Cloud (EC2), Citrix’s XenServer, and VMware’s Virtual Infrastructure,” said Billy Marshall, rPath founder and CEO.