Trigence Secures $8 Million in Series B Financing
Trigence, the leader in virtualization at the application level, recently announced it has raised $8 million in new financing. The investment brings Trigence’s total venture funding to $17.5 million. The additional funding, which is led by GrowthWorks and includes existing investors BDC Venture Capital and VenGrowth Capital Partners, will be used to meet demand by extending the technology to additional platforms and accelerate sales through marketing and strategic partnership programs.
“The management of applications is one of the major line items on a company’s IT balance sheet. As this issue grows in complexity and scope, Trigence can continue to take advantage of a significant opportunity for sustained success in this critical area of application virtualization,” said Tim Lee, Vice President, Investments, GrowthWorks. “GrowthWorks looks forward to helping Trigence continue on its growth trajectory.”
With Trigence AE, legacy and newly developed applications are virtualized and encapsulated into independent, moveable objects that can be relocated within Solaris and Linux operating systems to virtually any setting without compromising functionality. By turning applications into self-contained capsules, Trigence AE dramatically improves application manageability in Linux or Solaris environments and eliminates the need for reconfiguration or reinstallation to migrate, update, or move applications.
“Application virtualization is fundamentally changing the way IT departments view application management,” said David Roth, President and CEO, Trigence. “The current state of application management is inflexible, leaving most organizations with an overburdened data center marked by increased cost and inefficiencies. Our Series B financing allows us to accelerate the development of additional platform support for Trigence’s application virtualization software to further prove that customers can gain control of how, when and where they run their applications to reduce costs, increase customer responsiveness and deliver a measurable business value.”
Trigence targets enterprises with data-center and distributed server environments. IDC, a premier global provider of market intelligence, estimates the current worldwide market to be 7.2 million Linux servers, growing at an annual rate of 20 percent, and over one million Solaris servers. Additionally, analysts are predicting more than 40 percent of new server demand to be virtualized by 2010.
“Application management is a difficult, yet critical challenge for all IT organizations, however Trigence offers organizations a new approach by enabling them to run legacy applications on new hardware and operating systems – eliminating costly migration pains,” said Ron Warburton, Director, BDC Venture Capital. “An experienced management team, in-depth knowledge of this high growth market, notable international customers and sound partnerships all position Trigence to become the worldwide leader in application virtualization”
Trigence provides a new approach to IT management by encapsulating and liberating applications from underlying OS and server-level dependencies. The application virtualization technology not only simplifies common tasks like migration and re-configuration, but also harnesses heterogeneous applications and brings them together into a structured, standardized environment for dramatically improved manageability. Organizations in the financial services, government and technology sectors use Trigence solutions to significantly reduce the cost and complexity of IT management across the enterprise. Privately held Trigence is based in Jersey City, NJ with offices in Ottawa.
For more information, please visit www.trigence.com