Virtual Instruments Grows Sales 150% in 2H10

Virtual Instruments announced the continuation of its record setting pace as the company grew sales by over 150% in the second half of 2010 over the same period last year.

Underpinning its growth, the company closed new enterprise accounts with industry leaders including one of the largest US-based insurance companies, one of the largest diversified US-based financial services firms, and one of Europe’s biggest investment banks. In addition, Virtual Instruments expanded its presence with a major US-based telecommunications service provider and with two large health care organizations affiliated with Blue Cross/Blue Shield.

To support this growth, the company recently closed a new funding round which added two new investors, Lightspeed Venture Partners and Next World Capital, to complement investments from all current institutional investors. Lightspeed Venture Partners has an industry track record with its partners having invested in market leaders such as Riverbed, Brocade, Ciena, and Avamar. Next World Capital is a venture capital and growth equity firm that has strong ties in the European market.

In December of 2010, the company moved its headquarters from Scotts Valley, Calif. to San Jose, Calif., the center of Silicon Valley. With an increasing number of customers and employees, the transition to a larger office space for the headquarters was necessary and will support increased hiring plans throughout 2011.

In late October of last year, Virtual Instruments announced the expansion of its EMEA channel and its partnership with Virtue, a Paris-based value added reseller and integrator of end-to-end virtualization and storage solutions.

"With Virtual Instruments’ rapid growth and expanding presence in the global 2000 enterprises, it’s clear that virtual infrastructure optimization will play a critical role in moving companies past virtual stall and into the next phase of virtualization deployments," said John W. Thompson, CEO at Virtual Instruments. "The need for comprehensive visibility into the data center infrastructure is critically important as more enterprises virtualize mission-critical applications or move them into a private cloud."