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DynamicOps Inc. of Burlington announced that Intel Capital, the venture investing arm of Intel corp. was the lead investor in the company’s recent $5 million tranche of its Series B round.
The news of the $5 million round first came out in early August, based on the filing of documents by virtualization management software DynamicOps with the U.S. Securities and Exchange Commission. The first bite of the Series B round came in February, when DynamicOps took in $11 million, led by Sierra Ventures, with participation from Next World Capital.
In a release today, DynamicOps said it would use “the capital from the extended B round to fund global sales, marketing and development of its enterprise cloud solutions.” The company was spun out of Swiss banking giant Credit Suisse Group in 2008. Its virtual management product was originally developed internally by Credit Suisse’s Global Research and Development Group in 2005, after the company couldn’t find an external product to manage the firm’s growing virtualization infrastructure, officials said.
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