Tuesday, July 8, 2008

Xeround Secures $16 Million for Intelligent Data Grid

Xeround, a start-up based in Bellevue, Washington, closed $16 million in Series B funding for its development of a distributed data grid with virtualization capabilities. The company has R&D operations in Israel.

Xeround has developed a live, scalable Intelligent Data Grid, which is a cloud computing database with data virtualization capabilities. With Xeround's offerings, applications no longer need to know where data resides or if it is being managed with relational, hierarchical or object models. Now, applications get access to data in whatever format is needed -- wherever it's needed.

The new funding was led by Ignition Partners and Trilogy Partnership. Also participating in the round were existing investors Benchmark Capital and Giza Venture Capital.


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