Softricity Secures $15 Million in Venture Funding; Meritech Capital Partners Leads Round for Aggressive Expansion of Application Virtualization Company
Summary
SoftGrid standardizes application deployment, upgrades, patching and termination, so that IT groups can efficiently manage diverse software assets and easily provide customized desktops to users. "This round of financing marks a major milestone for Softricity as we have already made excellent headway in product development, building out our global sales organization and increasing our marketing activities. In addition, Meritech provides guidance on late-stage issues including management incentive plans, IPO market timing and positioning, adviser selection, and post-IPO ownership transition. The award-winning SoftGrid utility computing solution transforms applications from products that must be installed locally into virtual services that are centrally managed and deployed on-demand to any Windows desktop, laptop and Terminal Services/Citrix MetaFrame Presentation server. Global 2000 companies such as Suncor Energy, Mayo Clinic, Prudential, AIG, and Raytheon use SoftGrid to save tremendous time and money, enhance IT service quality, and transform into more dynamic businesses.
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