PHD Virtual raises $4 million in Funding!

by Patrick Redknap on March 7, 2013

PHD Virtual Technologies Secures $2 Million in Series C Funding from Citrix and Insight Venture Partners and $2 Million in Growth Capital from Wellington Financial.

It was announced today that the $4 million was raised recently with $2 Million in Series C funding led by Insight Venture Partners and Citrix, both current investors in the company, and a $2 million venture debt financing from Wellington Financial. Funds secured will be used to fuel technology innovation and drive sales, expansion into Europe and product development initiatives.

James Legg, President and CEO, PHD Virtual said:

“With a consistent record quarter over quarter growth we are excited others validate our position in the virtual and cloud backup arena and see the huge potential in our growing business and the vast opportunity in this market segment,”

“We truly value our partners in Insight, Citrix and Wellington and appreciate the confidence they have in our ability to continue to expand our efforts and surpass the 10,000 customer mark.”

Andy Cohen, Vice President of Strategic Development and Investments, Citrix said:

“PHD Virtual has carved a big niche by appealing to Citrix administrators who are responsible for managing virtual and cloud environments,”

“We believe the opportunities for Citrix customers will continue to expand exponentially and PHD Virtual is perfectly positioned for that opportunity. Citrix continues to see great prospects for this business.’’

Find out more about PHD Virtual at www.PHDVirtual.com

You can also try PHD Virtual Backup and Monitoring for VMware & Citrix now FOR FREE!

Go to www.phdvirtual.com/buy-try now!

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