Electronics producer Lenovo is leading a $34.8m series F round for US-based virtualisation system provider Scale Computing, days after forging a partnership deal with the company.
New and existing investors including venture capital firm Allos Ventures are also participating in the round, which has reached a $21.2m first close. The company intends to attract additional investors to close it at $34.8m before the end of this year.
Scale has developed a system called HC3 which brings together servers, storage, hypervisor, and data backup and disaster recovery tools, meaning enterprises can run their IT applications in a single place rather than relying on several different software and hardware products.
The company claims HC3 is capable of locating and fixing infrastructure issues in real time by utilising machine intelligence and automation technology. It agreed earlier this month to partner Lenovo on supplying intelligent edge computing to business customers.
Jeff Ready, Scale Computing’s chief executive, said: “We have experienced tremendous growth over the past two years, driven by our unique capability to completely automate the administration of a fully converged platform.
“This round of funding, combined with our new partnership with Lenovo, enables us to instantly reach customers at a global scale.”
Private equity firm ABS Capital Partners led Scale’s $18m series E round in 2015, a year after growth equity firm First Analysis provided an undisclosed amount of funding that could have formed part of a $2.2m round raised two months before according to a securities filing.
The company had raised $4.7m in funding earlier the same year, according to a regulatory filing. Heron Capital Venture Fund led a $12m series D round in 2012 that included Allos Ventures, Reservoir Venture Partners, CID Equity Capital, Spring Mill Venture Fund, Northgate Capital, Benchmark and Scale Venture Partners.
Scale raised $9m in a 2010 round led by Benchmark that also featured Blue Chip Venture Company, CID Equity and Spring Mill, and added $17m the same year in a series C round led by Scale Venture Partners that included Benchmark and Northgate Capital, taking its total funding to $31m.
