Former GE CIO Bets $50M on Cloud Startup Turbonomic
Turbonomic, a startup that provides performance optimization for hybrid cloud deployments, announced a $50 million funding round on Monday, Jan. 23, as well as adding Gary Reiner, former GE CIO, to its board. The funding round was led by General Atlantic, where Reiner is now an operating partner.
Turbonomic provides technology to manage application performance and reduce costs in on-premises data centers, as well as public, private and hybrid clouds, for both legacy and cloud-native applications.
The General Atlantic investment values Turbonomic at more than $800 million, according to a report on Forbes.
Turbonomic, known as VMTurbo until late August, claims to manage 2.9 million workloads for more than 1,600 customers, and works with Amazon Web Services, Google, Microsoft and other cloud providers. It was named the 100th fastest-growing company in North America on Deloitte's 2016 Technology Fast 500.
Hybrid cloud, where workloads are split between an enterprise's own data center and a public cloud provider, makes sense for a vast majority of enterprises that maintain legacy IT infrastructure. It enables enterprises to gain the flexibility of cloud combined with the control and security of on-premises IT.
In the long run, all but a small minority of enterprises may move to public cloud. Amazon is betting that way. But that's still a long way off, and until then hybrid cloud is a prime area of competition for cloud providers. (See Hybrid Cloud Will Be a Battlefield & Other Cloud Predictions.)
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— Mitch Wagner, , Editor, Light Reading Enterprise Cloud
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