Transitive Corp, which has devised a system that enables applications written for older processors and operating systems to be run on the latest platforms and processors, has secured $11.5m in Series C financing.
The company, a spin-out from Manchester University in the UK, now has its HQ in Los Gatos, California, and is about to announce its first customers, which will include many of the leading computer makers.
Transitive CEO Bob Wiederhold said its hardware virtualization technology would change the dynamics of the computer industry. The company’s QuickTransit product line enables software compiled for one processor and operating system to be run on a totally different system without any source code or binary changes.
Though such systems have historically been slow, Transitive’s technology is claimed to be capable of running software at 50% to 80% of the speed of the system for which it was designed.
Computer makers would welcome a system that enables them to sell new computers to customers dependent on an old application, and many users would welcome the opportunity to junk outdated hardware and operating systems.
Funding was led by Accel Partners with support from existing investors, Pond Ventures and Crescendo Ventures.