Wednesday, June 25, 2008

Boston VCs lead $10M round for cloud computing company rPath

By Mass High Tech Staff

General Catalyst Partners and North Bridge Venture Partners report that they led a $10 million Series C round of financing of virtual appliance developer rPath.

Cambridge-based General Catalyst and Waltham-based North Bridge were joined in the funding by the North Carolina-based Wakefield Group. Raleigh, N.C.-based rPath plans to use the new capital to increase its market share in cloud computing, company officials said.

The funding increases the amount of venture capital rPath has received to $16.5 million.

This year, rPath has doubled the number of its new customers, including 3SP, Avinity Systems, CERN, Cynapse and the U.S. Department of Energy, company officials said.