At the same time it unveiled its Intelligent Cloud Connect platform (see “Intelligent Cloud Connect from BTI Systems targets SDN-enabled cloud services”), BTI Systems revealed that it has closed a $10 million Series C funding round in January. The round included existing investors Bain Capital Ventures, BDC, Covington Capital, and GrowthWorks, with Bain taking the lead position.
The round brings the total funding the company has raised since the first quarter of 2011 to $33 million. BTI Systems believes this should be the last funding round, according to Sally Bament, senior vice president, global marketing at the company.
Most of the funding will go towards the launch and delivery of the new Intelligent Cloud Connect, Bament says. This includes scaling the company’s R&D, marketing, sales, and business development resources.
“Whether it’s checking Facebook, running a quick Google search, watching a YouTube video, or logging into Salesforce.com, we’re all demanding immediate access to increasing amounts of information in the cloud from mobile devices. These simple tasks are generating an exponential increase in the amount of data being sent across networks and between data centers,” said Bain Capital Ventures Partner Deepak Sindwani. “BTI identified this shift early on and designed the Intelligent Cloud Connect as a purpose-built solution for cloud and content service providers. We believe it is the only solution in the market that allows next-generation providers of mobile data and video to intelligently scale their data center operations quickly, cost-effectively, and with maximum flexibility.”
BTI Systems also has opened a new office in Palo Alto, CA, which will focus on sales and business development. The company has added Thomas Nolette as senior vice president of global operations as well. Nolette comes to BTI Systems from Crossbeam Systems, where he was vice president of operations.
The new funding comes as the company has enjoyed 40% compound annual growth in revenues during the past six years.
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