Friday, September 23, 2011

Adaptivity Raises $6M, Adds Red Hat Executive to Board

Excerpt from WRAL Techwire

Adaptivity, a developer of software for information technology design such as application optimization, is gearing up for expansion with $6 million in new venture funding.

Durham-based Intersouth partners and Atlanta-based Noro-Moseley Partners participated in the funding along with Intel Capital.
Adaptivity, which describes itself as “The IT Blueprint Company,” also added to its management ranks. (Watch a video here about the company.) Lee Congdon, chief technology officer at Red Hat (NYSE: RHT), has joined the Adaptivity board. The firm also hired Robert MacFarlane as its chief technology officer. MacFarlane had been director of technology asset management for Wells Fargo. The same investors poured $10 million into the firm in October 2010. Adaptivity plans to use the new funds for product development as well as sales and marketing.

“Large enterprises are increasingly interested in cloud computing technologies, data center transformation and application optimization,” said Bryan Wolf, Managing Director of Intel Capital, in a statement. “Adaptivity’s software suite is well positioned to take advantage of this market trend by enabling IT organizations to transition to the Cloud, consolidate and optimize infrastructure and improve infrastructure performance and agility, optimize applications, and meet compliance and risk requirements.”

Adaptivity launched in 2007.

WRAL Story Here

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