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Print Edition StoriesMonday, November 23, 2009
Leostream loads up with $2M more funding
By Mass High Tech Staff
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Leostream Corp. has taken in $2 million in an apparent follow-on round by the Waltham-based software company’s sole institutional backer, Meakem Becker Venture Capital.
Leostream executives did not return calls seeking comment, but a document filed with the U.S. Securities and Exchange Commission earlier this month named Meakem Becker managing director David Becker as a board member. Becker was also named in the company’s $3 million Series A funding, last May.
Leostream was founded in 2002 by CTO David Crosbie. He had previously founded Adero Inc. and Bluesocket Inc., a wireless networking firm in Burlington. In 2001, COLT Telecom Group plc acquired Adero for an undisclosed amount. Leostream CEO Michael Palin is the former CFO of Sitara Networks Inc., a Waltham-based quality-of-service software developer.
Leostream is part of Massachusetts’ growing virtual desktop software cluster.
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