PHD Virtual Raises $4 Million

  PHD Virtual Raises $4 Million

PHD Virtual Technologies Secures $2 Million in Series C Funding from Citrix
and Insight Venture Partners and $2 Million in Growth Capital from Wellington
Financial

Business Wire

PHILADELPHIA -- March 7, 2013

PHD Virtual Technologies, a pioneer in virtual machine backup and recovery,
and innovator of virtualization monitoring solutions, announced today that it
has raised $4 million recently with $2 Million in Series C funding led by
Insight Venture Partners and Citrix (NASDAQ: CTXS), both current investors in
the company, and a $2 million venture debt financing from Wellington
Financial. Funds secured will be used to fuel technology innovation and drive
sales, expansion into Europe and product development initiatives.

Tweet This: @PHDVirtual Secures $4 Million in Funds to Fuel Growth, Series C
Led by Insight Venture Partners http://bit.ly/HyPclv

“With a consistent record quarter over quarter growth we are excited others
validate our position in the virtual and cloud backup arena and see the huge
potential in our growing business and the vast opportunity in this market
segment,” said James Legg, President and CEO, PHD Virtual. “We truly value our
partners in Insight, Citrix and Wellington and appreciate the confidence they
have in our ability to continue to expand our efforts and surpass the 10,000
customer mark.”

PHD Virtual’s unique Virtual Backup Appliance (VBA) design makes the critical
difference in providing Citrix and VMware backup software solutions that
delivers the absolute best value in Virtual Backup and Replication. Based on a
100% virtualized footprint, its VBA deploys and is managed directly from the
XenServer® hypervisor without requiring any physical servers or additional
software.

“PHD Virtual has carved a big niche by appealing to Citrix administrators who
are responsible for managing virtual and cloud environments,” said Andy Cohen,
vice president, Strategic Development and Investments, Citrix. “We believe the
opportunities for Citrix customers will continue to expand exponentially and
PHD Virtual is perfectly positioned for that opportunity. Citrix continues to
see great prospects for this business.’’

Supporting Resources

PHD Virtual Technologies: http://phdvirtual.com/

More PHD Virtual News: http://phdvirtual.com/newsandevents

Twitter: https://twitter.com/PHDVirtual

Facebook: http://www.facebook.com/PHDVirtualTechnologies

LinkedIn: http://www.linkedin.com/groups?gid=1992663&mostPopular=&trk=tyah

RSS Feeds: PHD Virtual news
releases:http://www.phdvirtual.com/rss/news-and-events.xml

About Insight Venture Partners

Insight Venture Partners is a leading venture capital and private equity firm
investing in on-premise and SaaS-based software, eCommerce, internet and
data-services companies. Founded in 1995, Insight has raised more than $5
billion and made more than 150 investments worldwide. Our mission is to find,
fund and work successfully with visionary executives who are driving change in
their industries. We provide founders with practical, hands-on growth
expertise to foster long-term success. For more information,
visitinsightpartners.com

About Wellington

Wellington Financial LP is a privately-held specialty finance firm providing
term, venture and amortizing loans up to $30 million. Wellington Financial LP
is currently managing a $600 million investment program with offices in
Toronto, Canada, and Santa Monica, California. Wellington Financial LP is
managed by a partnership controlled by fund management and Clairvest Group
Inc. (CVG:TSX), who jointly have contributed a large financial stake to the
Fund. LPs include several of Canada’s largest institutional investors, pension
funds, family offices and crown corporations. Please visit the fund website at
www.wellingtonfund.com, or the Wellington Financial team blog at
www.wellingtonfund.com/blog.

About PHD Virtual Technologies

PHD Virtual provides the absolute best value  in virtual backup and monitoring
for VMware and Citrix platforms. More than 5,000 customers worldwide rely on
our products because they are effective, easier to use and far more affordable
than competitive alternatives. Delivering the highest performance and most
scalable cross platform backup and monitoring solutions on the market and
pioneer of Virtual Backup Appliances (VBAs), PHD Virtual Technologies has been
transforming data protection for virtual IT environments since 2006. Its PHD
Virtual Monitor provides a complete, end-to-end solution for monitoring
virtual, physical and application infrastructures in VMware and Citrix
environments. For more information, please visit: http://www.phdvirtual.com/

Contact:

Grau PR (for PHD Virtual)
Lisa Grau
760-207-9090
lisa@graupr.com
 
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