Ottawa’s AirVM, a cloud management platform company, today announced it has closed $8 million in Series A funding.
Led by RHO Canada Ventures, joined by Build Ventures, and current investor Wesley Clover, the Series A financing positions AirVM for continued global growth as they scale to meet the demand for their cloud management platform, AirSembly.
The company says it will also leverage this funding to expand into new regions, new cloud services, and new platform technologies.
“AirVM has grown tremendously in 2015, and as we continue to add new partners, this Series A financing ensures ongoing innovation and growth to meet the demands of the cloud industry,” said Joshua Vautour, founder of AirVM. “We will continue to build on our momentum as the leading VMware cloud management platform company and expand into new markets.”
“AirVM solves real problems for its customers in a market that offers the potential for sustained growth,” said Sean Brownlee, Partner of Rho Canada Ventures. “With its strategic relationships and proven products, the company is very well positioned to take advantage of the opportunity.”
“The cloud is the defining technology of our time. AirVM was an early innovator in the cloud market and has quickly emerged as a global player in cloud enablement software,” said Patrick Keefe, General Partner at Build Ventures. “They have a clear vision and the product and team needed to realize it. We look forward to working with them.”
“Josh and his team have worked hard to build the AirVM business,” said Terry Matthews, Chairman of Wesley Clover International, founding and ongoing investor in AirVM. “This external investment round is validation that they are on the right track.”
Rho Canada Ventures is affiliated with Rho Capital Partners, focusing on early stage investing in Canada’s most innovative technology companies. Based in Atlantic Canada, Build Ventures backs entrepreneurs with vision and tenacity who are building transformational businesses.