PHD Virtual Raises $4 Million

PHD Virtual Technologies, Inc. has raised $4 million recently with $2 million in series C funding led by Insight Venture Partners and Citrix Systems, Inc., both current investors in the company, and a $2 million venture debt financing from Wellington Financial.

Funds secured will be used to fuel technology innovation and drive sales, expansion into Europe and product development initiatives.

"With a consistent record quarter over quarter growth we are excited others validate our position in the virtual and cloud backup arena and see the huge potential in our growing business and the vast opportunity in this market segment," said James Legg, president and CEO, PHD Virtual. "We truly value our partners in Insight, Citrix and Wellington and appreciate the confidence they have in our ability to continue to expand our efforts and surpass the 10,000 customer mark."

PHD Virtual’s Virtual Backup Appliance (VBA) design makes the critical difference in providing Citrix and VMware backup software solutions that delivers the best value in Virtual Backup and Replication. Based on a 100% virtualized footprint, its VBA deploys and is managed directly from the XenServer hypervisor without requiring any physical servers or additional software.

"PHD Virtual has carved a big niche by appealing to Citrix administrators who are responsible for managing virtual and cloud environments," said Andy Cohen, VP, strategic development and investments, Citrix. "We believe the opportunities for Citrix customers will continue to expand exponentially and PHD Virtual is perfectly positioned for that opportunity. Citrix continues to see great prospects for this business."