OpenCloud raises $10 Mn in series B financing
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Cambridge: New Zeland based OpenCloud, a supplier of real-time application servers for next-generation telecommunications services, has recently closed a $10 million second funding round. Existing institutional investors, Advent Venture Partners, No 8 Ventures and Motorola Ventures together with Silicon Valley Bank provided the $10 million debt and equity investment. The investment will support the global sales, marketing, delivery and support of OpenCloud's Rhino product set. OpenCloud Rhino enables the delivery of new person-to-person communications services at a faster pace and at a significantly lower price-point throughout the application lifetime - during service development, deployment and operation. OpenCloud Rhino, a carrier grade JAIN SLEE application server provides a java-based service creation and continuously available run-time environment for real-time telecommunications applications. Deploying an open standards platform, such as OpenCloud Rhino enables third-party companies and service providers to develop product applications and deploy them into any JAIN SLEE-enabled telecommunications network. This produces a competitive marketplace of companies with portable products and reduces the proprietary vendor lock-in that many telecommunications providers currently experience. "We are delighted that our existing institutional investors have provided further funding since their initial investment in December 2006," said Jeff Gordon, Chief Executive of OpenCloud.

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