Racemi Got $2.5 Million in Financing

Racemi, Inc., provider of image-based provisioning software used to automate data center operations, announced a new round of venture funding totaling $2.5 million and the appointment of Lawrence O. Guillory to chief executive officer.

Atlanta-based Gray Ghost Ventures, a long-term supporter of Racemi, is leading a round of financing for the company. The $2.5 million round is in addition to other financing secured by Racemi. Terms of the financing deal were not disclosed.

The company will use the funds to further develop its software and continue expanding its business in the U.S., especially with OEM partners.

Guillory has been with the company since March 2008 having been promoted in July 2008 to vice president of sales and marketing. He is a serial entrepreneur having co-founded two other companies where he remains on the board and sits on the board of another technology company. Guillory has 12 years prior experience in software management and business development spanning both start-ups and larger companies. From 1994 –2000, he worked for Brown & Williamson as a Software Development Manager and was recognized for three straight years of delivering over $5 million in software development projects, on-time and on-budget. While there, he co-founded Cpons.com which grew into one of the Internet’s largest online discount golf communities, supporting more than 750 golf courses in all 50 states and 820,000 golfers as members. In 2001, Guillory began working for CheckFree Corporation. While there, he launched two new businesses, grew sales by 530 percent in the first two years on one product line, drove the company’s flagship product from early adopters to a mainstream consumer base of over 25 million consumers, built a new emergency payments business, and turned around flat-lined business for a seven-fold growth plan. Mr. Guillory has a Bachelor of Computer Science and MBA training form Mercer University.

“Today, we begin a new chapter in the company’s history with a complete focus on serving our OEM partners that tap into Racemi’s technology to enhance their own software products,” said Frank Zaubi, Racemi chairman of the board. “Lawrence Guillory brings entrepreneurial experience and leadership to work with partners so that together we can deliver improved data center management capabilities.”

Former CEO, Richard Stansbury, will remain on the company’s board to ensure a smooth transition. He was instrumental in building the company over the past three years, and led the strategic transition to an OEM business model.

Racemi, founded in 2001, has had a number of technology firsts, including patents covering the original server blade and utility computing technologies. Today, Racemi develops software that improves how data centers are deployed and managed. Founder, Charles Watt, serves as the company’s chief technology officer. In March, Racemi was included in the Gartner report, ‘Cool Vendors in IT Operations, 2009’.