Fresh off of raising $1.35 billion for two funds, Accel Partners has backed Palo Alto, Calif.-based ScaleXtreme, a developer of systems management products delivered as a cloud service. Ignition Partners led the $11 million Series B, with participation from previous investor Accel, which had invested $2.5 million in a Series A round last fall. As part of the funding, Frank Artale, managing director at Ignition, has joined the board, which already includes Ping Li from Accel as well as Nand Mulchandani, CEO and co-founder, and Balaji Srinivasa, CTO and co-founder of ScaleXtreme.
ScaleXtreme Secures $11M Series B
First cloud-based systems management company attracts new funding from Ignition Partners, affirming disruptive market opportunity
Palo Alto, Calif. – June 21, 2011 — ScaleXtreme, Inc., the first cloud-based systems management company, today announced it has closed an $11 million Series B led by Ignition Partners with participation from previous investor, Accel Partners. The new financing will be used to accelerate the rollout of additional product capabilities, and expand marketing and sales for ScaleXtreme’s innovative new way of managing hybrid clouds. Frank Artale, managing director at Ignition, will join the board that includes Ping Li from Accel and Nand Mulchandani and Balaji Srinivasa from ScaleXtreme.
“There is a dramatic shift going on in the computing industry with the advent of virtualization and public cloud computing – and with this, there is a significant opportunity for some company to transform the management of the new computing landscape. We look forward to partnering with Ignition and Accel to take advantage of this significant market opportunity,” said Mulchandani, CEO of ScaleXtreme. “We also welcome Frank to our board of directors. He has a tremendous track record of success in the industry, including specific domain knowledge of the systems management market. This expertise combined with one of the strongest professional networks in the space brings incredible value to ScaleXtreme.”
“This is an exciting time for the industry and ScaleXtreme specifically. They are addressing a clear need in the market and have assembled an incredibly talented management team and group of engineers,” said Artale. “I am look forward to working with Nand and the rest of the team.”
ScaleXtreme provides the next generation of systems management products, delivered as a cloud service.
Built from the ground up to be simple, scalable, and social, ScaleXtreme’s product transforms the way IT admins manage their Amazon EC2, VMware virtual machine and physical server deployments. ScaleXtreme was founded by a team with deep expertise in enterprise software and systems management, including Bladelogic and VMware, and is backed by Accel Partners and Ignition Partners. For more information on ScaleXtreme, visit http://www.scalextreme.com