Virtualization software firm PHD Virtual raises $4 million from Citrix and others

Virtualization software firm PHD Virtual raises $4 million from Citrix and others

PHD Virtual, a virtualization management software company that specializes in the backup of VMware and Citrix and monitoring solutions for physical, virtual and cloud environments, has raised $4 million (PDF).

Half of the capital was raised in an equity funding round led by PHD Virtual business and technology partner Citrix and VC firm Insight Venture Partners, while the other $2 million comes in the form of venture debt financing from Wellington Financial.

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Both Citrix and Insight Venture Partners have previously invested in PHD Virtual, but the size of previous capital injections was never disclosed.

Andy Cohen, VP of Strategic Development and Investments at Citrix, said:

“PHD Virtual has carved a big niche by appealing to Citrix administrators who are responsible for managing virtual and cloud environments.

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.”

PHD Virtual says it will use the fresh cash to support its expansion into Europe, and product development initiatives. The company claims more than 5,000 customers worldwide and aims to double that number.

Image credit: Thinkstock

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