Financing from Intel Capital, Intersouth Partners and Noro-Moseley Partners.
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CHARLOTTE, NC, Adaptivity, The IT Blueprint Company, which provides an intelligent IT blueprinting software suite, announced today that it has raised an additional $6.0 million of venture capital financing from Intel Capital, Intersouth Partners and Noro-Moseley Partners, to be funded in two $3.0 million tranches the first of which was funded on July 29, 2011.
The Company also announced that Lee Congdon, Chief Information Officer of Red Hat, Inc. (NYSE:RHT), the world's leading provider of open source solutions, has joined its Board of Directors and that Robert MacFarlane, former VP and Director, Technology Asset Management of Charlotte based Wells Fargo, has joined the Company as its new Chief Technology Officer.
The additional equity funding will be used to accelerate product development and scale sales and marketing infrastructure to support growing market demand for the Company's Blueprint4IT Lifecycle SuiteTM of software products. The investors previously invested $10 million in the Company in October 2010.
"Large enterprises are increasingly interested in cloud computing technologies, data center transformation and application optimization," said Bryan Wolf, Managing Director, Intel Capital. "Adaptivity's software suite is well positioned to take advantage of this market trend by enabling IT organizations to transition to the Cloud, consolidate and optimize infrastructure and improve infrastructure performance and agility, optimize applications, and meet compliance and risk requirements."
"Whether seeking to optimize their legacy infrastructure or accelerate the delivery of new IT Services, our IT blueprinting software allows enterprise IT to quickly assess their current state, identify their desired state and execute a transition focusing on cloud utilization, datacenter transformation and application optimization," said George Mackie, Chairman of Adaptivity.
"We are pleased to welcome Lee Congdon to our Board. Lee's industry experience and track record of success at leading technology companies will be a tremendous asset as we continue to expand our product and service offerings and work to exceed customer expectations," said Mr. Mackie.
As Red Hat's Chief Information Officer, Mr. Congdon is responsible for Red Hat's global information systems, including the technology strategy, enterprise architecture, information technology governance, applications delivery and management, and systems operations supporting the company. His role includes enabling Red Hat's business through services such as technology innovation, data and information management, technology-enabled collaboration, and process improvement.
Mr. MacFarlane joins Adaptivity as its new CTO to lead its Product Management efforts and ensure that the Company continues to be a leading innovator in the delivery of software and services. In particular, Mr. MacFarlane will drive innovation to ensure that Adaptivity's Blueprint4IT Lifecycle SuiteTM of software products continues to deliver a repeatable, scalable, fit-for-purpose infrastructure planning and design process that aligns IT to the business and allows the enterprise to take advantage of the best deployment models for any given workload. Mr. MacFarlane has over 20 years of experience in IT product management and delivery with leading IT organizations at prominent financial institutions and technology companies including, Wells Fargo, Wachovia, EMC, Fore Systems and Stratus Computer.
"We are delighted that Bob MacFarlane has joined our executive team. Bob's industry experience and track record of success in product management at leading IT organizations will be a tremendous asset as we continue to innovate and work to exceed customer expectations," said Matt Barrington, COO of Adaptivity.
Founded in 2007 to help companies address the complexities associated with IT design and implementation, Adaptivity's Blueprint4ITTM Software Suite and Services provides the design precision and automation to create tailored blueprints and prescriptive roadmaps for enterprise cloud programs that integrate architecture, engineering and system operations into business-optimized IT designs. This enables intelligent IT design decisions to be integrated into best practices and to drive repeatable, efficient actions across the technology build and deployment lifecycle. For more information, visit www.adaptivity.com
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.7 billion in over 1,100 companies in 48 countries. In that timeframe, 189 portfolio companies have gone public on various exchanges around the world and 258 were acquired or participated in a merger. In 2009, Intel Capital invested US$327 million in 107 investments with approximately 50 percent of funds invested outside the U.S. and Canada. For more information on Intel Capital and its differentiated advantages, visit http://www.intelcapital.com.
About Intersouth Partners
Intersouth Partners is one of the most active and experienced venture capital firms in the Southeast, having invested in more than 100 private companies. Founded in 1985, Intersouth manages $780 million in seven venture capital limited partnerships, making it the largest venture capital fund in North Carolina and one of the largest in the Southeast.
About Noro-Moseley Partners
Since 1983, Noro-Moseley Partners has been a leading Southeast venture capital firm bringing energy, connections and domain expertise to the strongest entrepreneurs in the region. Over the past 25 years, NMP has become an important part of the Southeast's community of entrepreneurs and innovators. While focused on generating significant returns for investors, NMP works hard to be the entrepreneur's partner of choice in the Southeast. NMP has invested in more than 170 promising start-ups and early-growth-stage companies in the technology, healthcare and business services industries.