10 Rising IT Stars That Raised Funding In June

Follow The Money

June was a busy month in the world of up-and-coming IT companies, with a number of venture capital funding rounds in storage, networking, virtualization and high-performance computing. While these companies are not necessarily among the biggest names in the IT infrastructure world, they could join those ranks soon. Their investors -- including Sequoia Capital, New Enterprise Associates, Microsoft Ventures and Cisco Systems -- certainly think so.

We've selected 10 promising IT companies that raised major funding in June.

Cycle Computing

Headquarters: Greenwich, Conn.

CEO: Jason Stowe

Funding: Amount not disclosed, first outside funding round

Investors: WorldQuant Ventures

What it does: Provides access to high-performance computing power through the use of resources in the public cloud; focused on enabling simulations, analytics and other data-intensive workloads


Headquarters: Herzliya, Israel

CEO: Amir Aharoni

Funding: $15 million

Investors: Cisco

What it does: Technology for software-defined, all-flash storage; allows commodity servers to be configured as all-flash storage arrays for enterprises looking to scale out


Headquarters: Ottawa, Ontario

CEO: Michael L. Torto

Funding: $12.1 million, growth round

Investors: Arrowroot Capital

What it does: Software for managing cloud environments -- private, public or hybrid -- using automation and resource management in one product

Keen IO

Headquarters: San Francisco

CEO: Kyle Wild

Funding: $14.7 million, Series B

Investors: Pelion Venture Partners (led the round), Sequoia Capital, Rincon Venture Partners, Amplify Partners, Rothenberg Ventures

What it does: Cloud analytics platform that lets customers work with custom event data at a large scale, with capabilities including collection, storage and analysis of the data


Headquarters: San Francisco

CEO: Charlie Oppenheimer

Funding: $11.5 million

Investors: True Ventures (led the round), Matrix Partners, Cisco, Trinity Ventures, Harmony Partners, Data Collective Venture Capital

What it does: Cloud-based log management software; aims to enable customers to have a better understanding of how their applications are performing


Headquarters: San Francisco

CEO: Dan Dumitriu

Funding: $20.4 million, Series B

Investors: Simplex, Innovation Network, Midokura Director Allen Miner

What it does: Software network virtualization; aims to enable enterprises to scale their network infrastructure "to hundreds of thousands of virtual ports from a single physical network"


Headquarters: Seattle

CEO: Peter Godman

Funding: $32.5 million, Series C

Investors: Allen & Company, Top Tier Capital Partners, Tyche Partners, Kleiner Perkins Caufield & Byers, Madrona Venture Group, Highland Capital Partners, Valhalla Partners

What it does: Software for better scale-out of storage; aims to provide a view into customer data -- what data is being stored, where it's being stored -- as a way to boost performance and efficiency


Headquarters: San Francisco

CEO: Joris Poort

Funding: $14 million, Series A

Investors: TransLink Capital, Microsoft Ventures, Jump Capital, Itochu Technology Ventures, Two Roads Group, Data Collective

What it does: Cloud simulation software and high-performance computing systems, which are aimed at helping in product design and app development and ultimately "transform IT into unified, agile environments"


Headquarters: San Francisco

CEO: Andy Randall

Funding: $13 million, Series A

Investors: New Enterprise Associates (led the round), Wing Venture Capital

What it does: Software-based networking solution that aims to help enterprises that are "embracing the cloud-native model" for deployments of private, public and hybrid cloud


Headquarters: Boston, and Herzliya, Israel

CEO: Ziv Kedem

Funding: $20 million, Series E1

Investors: CRV (led the round), Claltech, 83North, Battery Ventures, Harmony Partners, IVP, RTP Ventures, U.S. Venture Partners

What it does: Software for business continuity and disaster recovery in the enterprise, in both virtualized data center and cloud environments