Leostream Picks Up Series A Funding To The Tune Of $3 Million
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Waltham, Mass.-based hosted desktop connection broker Leostream, has raised $3 million in Series A funding led by Meakem Becker Venture Capital, reports Private Equity Hub, citing a regulatory filing.
CEO Mike Palin said the company plans to release details on the financing in coming weeks. Palin is the former CFO of Sitara Networks Inc., a Waltham, MA-based quality-of-service software developer.
Leostream was founded in 2002 by David Crosbie, who is now listed as the company’s CTO. He had previously founded Adero and Bluesocket, a wireless networking firm in Burlington. In 2001, COLT Telecom Group acquired Adero for an undisclosed amount.
Over the years, Leostream has evolved from basic virtualization management to Connection Brokering for both physical and virtual machines. The company boasts a high number of quality partnerships with companies like HP, Intel, Citrix and Microsoft, among others.
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Pingback by Leostream Puts Jack Hembrough In Charge Of Sales and Marketing | Virtualization.com on 16 July 2008:
[...] the young hosted desktop connection broker that recently announced it had r aised $3 million in Series A funding, today announced it has appointed Jack Hembrough to the position of Executive Vice President of [...]