TMCnet News
XenSource Raises $6 Million Series A FundingPALO ALTO, Calif. --(Business Wire)-- Jan. 13, 2005 -- Kleiner Perkins Caufield & Byers and Sevin Rosen Funds Co-Lead Investment; Company to Develop and Maintain Xen Open Source Virtualization Technology XenSource, Inc., today announced it has secured Series A funding of $6 million, co-led by Kleiner Perkins Caufield & Byers and Sevin Rosen Funds. XenSource was founded by the architects of the Xen hypervisor to foster and promote the adoption of Xen, a powerful, Open Source virtualization technology. Founders include the leader of the Xen project, Ian Pratt of the University of Cambridge, Nick Gault, an enterprise software veteran and formerly founder of Network Physics, and Open Source veteran and openMosix leader Moshe Bar. Pratt and his co-founders at the University of Cambridge will continue to develop the technology and manage the Xen Open Source community project. "This is an exciting opportunity for Xen and the industry," said Pratt. "XenSource is committed to ensuring that Xen remains the world's best hypervisor and to continuing its free distribution via the Open Source process. We look forward to working with industry partners, and in particular the major Linux distributors, to ensure widespread adoption of Xen." Virtualization allows enterprises to realize significant savings from server consolidation -- running multiple operating systems and mission critical applications on a single server. "As virtualization becomes a key requirement in the data center, the opportunities for Xen are huge," said Gault, president and CEO of XenSource. "Unlike existing commercial products tied to expensive, proprietary software stacks, Xen is available free of charge, and offers near-native performance for virtualized applications. We look forward to leveling the playing field, and believe the investment by these top-tier venture investors strongly validates our potential and business model." "XenSource is uniquely positioned to address the needs of this emerging market. We are fully committed to help the founding team build a strong, independent, customer-oriented, market-driven enterprise," said Kevin Compton, partner at Kleiner Perkins Caufield & Byers. "Xen is rapidly becoming the leader in server virtualization," said Nick Sturiale, general partner at Sevin Rosen Funds. "XenSource has been founded to support customers wanting to realize the full potential of Xen." Both Compton and Sturiale will join XenSource's Board of Directors. More information about Kleiner Perkins Caufield & Byers and Sevin Rosen Funds can be found at www.kpcb.com and www.srfunds.com, respectively. About XenSource, Inc. XenSource Inc., was founded by the leaders of the Xen project, with the aim of helping Xen flourish as the definitive Open Source GPL virtual machine monitor. Formed in 2004 and based in Palo Alto, California, more information about XenSource can be found at www.xensource.com. |
