Wednesday, July 9, 2008

OpenCloud Raises $10 Million for Real-Time Apps

OpenCloud Limited, a start-up based in Cambridge, UK, closed $10 million in second round funding for its work in real-time application servers for next-generation telecommunications services.

OpenCloud's :"Rhino" is a carrier grade JAIN SLEE application server that provides a java-based service creation and continuously available run-time environment for real-time telecommunications applications.

The company said its OpenCloud Rhino enables the delivery of new person-to-person communications services at a faster pace and at a significantly lower price-point throughout the application lifetime - during service development, deployment and operation. Deploying an open standards platform, such as OpenCloud Rhino enables third-party companies and service providers to develop product applications and deploy them into any JAIN SLEE-enabled telecommunications network.

Existing institutional investors, Advent Venture Partners, No 8 Ventures and Motorola Ventures together with Silicon Valley Bank provided the $10M debt and equity investment. The investment will support the global sales, marketing, delivery and support of OpenCloud's Rhino product set.

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