Today Embotics, a Canadian company that entered the VM lifecycle management market in 2007 with a product called V-Commander, announced that it has closed $8.4 million in equity financing.
This investment, led by VentureLink and Convington Fund II Inc. with $2.5 million each raises the total funding amount to $18 million.
This round comes after Embotics’ most successful year to date with 300% growth in sales over the past year and 220% year-on-year growth in new customers, including Bell, Deloitte, Cisco, CSC, etc.
We continue to support Embotics because of its proven track record of successfully developing products that address the problems in virtual data center environments. Our experience investing in the virtualization sector, along with Embotics’ success in assisting companies with private cloud management, automation and self-service provisioning, make for a smart business and investment partnership between our two organizations.
said Phil Reddon, managing partner of Covington.