Ottawa-based AirVM announced today the close of an $8 million Series A round, led by Rho Canada Ventures, with participation from Build Ventures and Wesley Clover. The cloud management company indicated that it will use the funding to fuel expansion into new markets, as well as new cloud services and technologies.
“AirVM has grown tremendously in 2015, and as we continue to add new partners, this Series A financing ensures ongoing innovation and growth to meet the demands of the cloud industry,” said Joshua Vautour, CEO and founder of AirVM, in a statement to BetaKit. “We will continue to build on our momentum as the leading VMware cloud management platform company and expand into new markets.”
AirVM said the funding will allow the company to specifically expand support for 3rd party public clouds, like AWS and Microsoft Azure, as well as integrate with cloud tech like OpenStack and Microsoft Hyper-V. The company indicated that new sales, support, and engineering teams will be required to fuel its expansion.
“Josh and his team have worked hard to build the AirVM business”, said Terry Matthews, Chairman of Wesley Clover International, AirVM’s found investor. “This external investment round is validation that they are on the right track. The AirVM technology solves real business problems, their partner ecosystem continues to grow, and their markets are expanding globally. These are all key achievements we strive for in young companies, and we are pleased with the future prospects this additional funding injection will enable.”
AirVM also announced today that it has signed managed cloud computing company RackSpace as a service provider partner.