Monday, April 6, 2009

Teradici Raises $17 Million for PC-over-IP Technology

Teradici, a start-up based in Burnaby, British Columbia, has raised US$17 million in series C funding round for its PC-over-IP network-delivered computing technology. The technology allows users to work at an inexpensive terminal to access an operating systems, applications, and data residing in central datacenters. They receive exceptional graphics, multimedia, audio and USB connectivity without having to purchase, manage or maintain a PC.

Teradici will use the new funds to continue to market its ground-breaking enterprise PC-over-IP technology around the world and to develop a new offering for consumers and small businesses.

Investors in the over-subscribed funding round include TELUS Ventures, the venture arm of TELUS, as well as Alloy Ventures, GrowthWorks Capital, Skypoint Capital, BDC Venture Capital, and Alta Berkeley Venture Partners.

Teradici also announced that Kevin Salvadori, Executive Vice President of Business Transformation & Technology Operations at TELUS, will assume a seat on its board of directors. Mr. Salvadori brings to the board extensive strategic and operational experience in Information Technology systems architecture, application development and maintenance, technology operations, and physical and technology security.

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