* BlueStripe Software, Solera Networks secure $15M in venture capital cash
Venture capital funding keeps rolling in for network industry vendors. BlueStripe Software and Solera Networks separately announced successful funding rounds for $8 million and $7 million, respectively.
BlueStripe Software, founded in June 2007, announced it had secured $8 million in a second round of venture financing. The company initially was self-funded, and in December 2007, BlueStripe picked up $5 million in a Series A round from Trinity Ventures. This second round was led by a new investor, Valhalla Partners, with Trinity Ventures also contributing. The start-up vendor is tackling application performance management in virtual environments, which investors say will serve IT buyers exploring new computing environments going forward.
“We continue to see a growing opportunity for helping enterprises manage applications based on the increasing number of major computing platform changes given the trends of virtualization, SOA and Web 2.0,” said Noel Fenton, general partner at Trinity Ventures, in a BlueStripe statement.
BlueStripe’s FactFinder helps companies struggling to optimize application performance in a less static environment, such as those featuring both physical and virtual servers. Fenton added: “BlueStripe’s management team has the expertise and the solution that answers the market need for application visibility across an infrastructure, regardless of platform or environment.”
For its part, Solera Networks announced it had closed on $7 million in new funding led by new investor Allegis Capital, existing investor Canopy Ventures also participated in the round. Solera Networks, which develops network forensics software, had garnered $5 million from Canopy Ventures in a second round of funding. Canopy also led the vendor’s first round in 2006, according to Solera Networks.
“Organizations must shift their focus to incident response, supported by network forensics. Determining the scope of an event is key, followed by remediation and fortification,” said Spencer Tall, managing director at Allegis Capital, in a statement. “This is where Solera Networks’ open architecture, support for any network and easy-to-use forensic applications fill the gap in today’s network security platforms.”
The two vendors’ news follows a flurry of investment activity for ExtraHop Networks, Reflex Systems and StoredIQ.
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