Virtustream banks $15M to beef-up the enterprise cloud

Intel, Columbia, Noro-Moseley participate in funding round to make moving to the cloud easier

Cloud solution provider Virtustream announced Friday that it raised $15 million. This Series-B funding came from Intel Capital, Columbia Capital, Noro-Moseley Partners, TDF and QuestMark Capital. This brings the total funds raised by Virtustream to near $75 million.

Virtustream will use these new funds of accelerate its client base, development and expand its global reach.

The company provides strategy, integration and managed services using various virtualization technologies to address the growing requirements of enterprise customers as they move their IT and applications into the cloud.

Virtustream, which was founded in 2008, last had a substantial round of funding in May 2010 when it snapped up $40 million. And just last month, the company completed its buyout of Toronto-based cloud services broker Enomaly Inc.

The company bought Enomaly for an undisclosed amount. Enomaly, which launched in 2003, was responsible for a product called Elastic Computing Platform and  last year launched a resource exchange called SpotCloud.

Virtustream saw SpotCloud as the carrier of some valuable code that will help Virtustream build its own federated cloud ecosystem.

Virtustream also has an upcoming product, xStream Exchange, which is expected out in late-2012 or early 2013, and will integrate the SpotCloud code and make some needed security upgrades to the already popular xStream product. 

Part of the proceeds from the funding will be used to further enhance xStream, Virtustream’s secure high-performance cloud platform for enterprises. The xStream platform was built to address issues that enterprise customers come across as they move their IT and applications intoto the cloud.

XStream is an enterprise-class cloud solution to manage private, virtual private, public and hybrid clouds, both “as-a-service” and as a software solution for customers' clouds.

Currently, Virtustream has offices in New York, Washington, London, and San Francisco and operates four data centers worldwide. 

One of the closest competiors of Virtustream was NaviSite until that provider of enterprise-class hosting, managed application, messaging and cloud services was acquired by Time Warner Cable in April of 2011.