Fabric7 Systems Inc. has raised $17.5 million in series B financing that it will use to ship its first generation products and fund future growth.
Though currently in stealth mode, Fabric7 CEO Dr Sharad Nehrotra talks of re-architecting the enterprise data center with a new class of standards-compliant equipment that the competition is only now starting to talk about.
While many observers see this as evidence the company is working on its own version of utility computing, a space that is rapidly becoming crowded. Bob Marshall, managing partner at Selby Ventures and a newly appointed Fabric7 board member, said he expected the company to deliver disruptive price and performance advantages over existing systems.
Selby Venture Partners led the funding, joined by new investors Foundation Capital, Vanguard Ventures and Yasuda Ventures. Existing investors, including New Enterprise Associates (NEA), Goldman Sachs, Sanmina-SCI also participated.