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Virtustream Nears $50M in Financing

01/16/2011

Bethesda, MD (citybizlist) -- Virtustream, a cloud computing platform and services company, completed a $49.35 million equity offering, according to an SEC filing.

As reported by citybizlist, the offering began in September of 2009 and has had a series of infusions from Alexandria, Va.-based Columbia Capital, Miami-based Blue Lagoon Advisors, Huntington Beach, Calif.-based Intel Capital, Atlanta-based Noro-Moseley Partners and Washington, D.C.-based TDFunds.

Named in the current filing were co-founder and CEO Kevin Reid, co-founder and executive chairman Rodney Rogers (Blue Lagoon Advisors), CTO Julian Box, and CFO Kevin Cheetham; and directors and presumed investors; and directors Patrick Hendy, John Siegel and Matt Newton (Columbia Capital), and Alan Taetle (Noro-Moseley Partners).

Rogers was formerly the co-founder, Chairman and CEO of Adjoined Consulting, then became COO of Kanbay, a 7,000 person global IT Services firm subsequently acquired by Capgemini (Paris: CAP) in 2007. He co-founded Virtustream in 2008. He is also Chairman of Teliris, a provider of telepresence solutions, director of Greensmith Energy Management Systems and UnitedLex, and Managing Partner of Blue Lagoon Capital, a private executive advisory and venture capital firm.

Reid was formerly the Co-founder and Chief Technology Officer of Adjoined Consulting, a US based management consulting, technology and outsourcing firm, that was eventually acquired by Capgemini (Paris: CAP) in 2007. Kevin continued on with Capgemini as the North American practice leader for Business Intelligence and Enterprise Architecture. Earlier he was CIO for Domino Foods, and before that he was with Accenture's Consumer Products Industry Practice. Reid is also President of Blue Lagoon Advisors, LLC, and chairman of Greensmith Energy Management Systems, LLC, an energy storage technology company.