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Qlusters, Inc. Announces Strategic Funding; Company Announces $16M Investment; Adds to Board of Directors
PALO ALTO, Calif. --(Business Wire)-- April 7, 2004 -- Qlusters, Inc., the leader in Enterprise Cluster Management, today announced that it has received $16M in a private, venture capital investment round. Duff Ackerman and Goodrich LLC (DAG) led the round and Charles River Ventures were included as new investors in the three year old company. Current Qlusters investors, including Benchmark Partners and Israel Seed Ventures, repeated their commitment in this round.
John Cadeddu, General Partner at round-leading DAG, joins the Qlusters Board of Directors. We have been searching for a compelling investment opportunity in a company with the technology to enable Utility Computing for the Enterprise, and are excited by Qlusters' significant growth potential, said Cadeddu.
Benchmark is very pleased with the significant technology and business progress that Qlusters has made since our initial investment in June of 2002, said Kevin Harvey, Managing Partner of Benchmark Capital who also serves on the Qlusters Board. Our additional investment in Qlusters reinforces our commitment and bears testimony to our confidence in the company.
We are extremely pleased with the quality, speed and enthusiasm of this round, said Dave Martin, Chairman and CEO of Qlusters. These funds will allow us to expand our technology and dramatically grow our business over the next few years.
Utility Computing is the ability to provide computing as a ubiquitous service, adapting to changing user and application needs. Enterprise cluster management is an integral part of utility computing, an emerging paradigm for IT systems management. ClusterFrame(TM), Qlusters premiere product, harnesses computing resources to provide a manageable, dynamically scalable and highly available data center for both hardware and applications.
About Qlusters
Founded in 2001, Qlusters, Inc. delivers ClusterFrame(TM): enterprise cluster management software that optimizes computing resource use for enterprise Linux applications. ClusterFrame provides policy-based management, high availability, and scalability services to meet dynamic application needs. In August 2003, ClusterFrame was recognized at LinuxWorld as a Product Excellence Award finalist for Best Cluster Solution. ClusterFrame reduces administrative overhead by using policy-based management to efficiently deploy computing resources across applications. For mission-critical applications, ClusterFrame provides high availability at low cost through both hardware and application failover. ClusterFrame scalability services ensure that applications seamlessly scale at times of peak resource demand. Qlusters is headquartered in Palo Alto, California, with regional offices in New York City and Tel Aviv, Israel. For more information, please visit www.qlusters.com
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