The funding comes as Verari experiences increasing momentum and growth in its core business and licensing in both the U.S. and internationally. In the first half of 2010, Verari has increased its customer and partner base, as well as completed several key deployments of its award-winning solutions to market-leading companies. Additionally, Verari has been rapidly expanding its research and development efforts to continue its leadership in providing high-density, energy-efficient, custom tailored blade-based cloud solutions.
"This funding is a significant milestone for Verari," said David Driggers, Chairman and CEO, Verari Technologies. "The investment comes at a crucial time as our traction is increasing and the cloud server and cloud storage markets are beginning to aggressively mature. Our FOREST and BladeRack platforms are being deployed worldwide through our outstanding partner network, and we are seeing strong levels of interest and demand for both. The additional capital puts us in an excellent position for extended growth and success."
Additionally, Verari announced the appointment of Marc Brown as the company's President and Chief Operations Officer. Brown will be responsible for managing Verari's day-to-day operations and will play a key role in the direction of the company's sales and marketing efforts.
Brown was most recently president of Kontron America, a $140M division of Kontron AG and one of the leading providers of high performance and long-life embedded computing technology solutions. Since starting his company in 1992, he has a record of achieving steady organic and M&A growth while maintaining strong profitability. His most recent acquisition was the Communication Rackmount Server division from Intel. In his new role at Verari, Brown will apply his robust strategic and management experience to the new wave of high performance, cloud computing solutions currently being developed and licensed by Verari Technologies.
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