The second tranche of funding included an investment from Intel Capital, which joined a recent financing round led by BRM Capital. Formula Vision, GigaSpaces’ major shareholder, also participated in the round.
GigaSpaces said it intends to use the funds to expand its sales, marketing and product development activities, and to capitalize on increasing customer demand for grid-based solutions.
The company itself was founded in 2000 and has offices in the US, the UK, and Israel. It is an affiliated company of the Formula Group, Israel’s largest publicly held IT group.
GigaSpaces Technologies is a provider of grid-based application servers for transaction-intensive applications. It claims to be able to deliver all the necessary distributed application services such as distributed caching, parallel processing, and a distributed messaging bus.
GigaSpaces’ customers are constantly looking for new ways to solve the performance, reliability and scalability issues of their transaction-intensive, business critical applications, said CEO Yaron Benvenisti. This funding from Intel Capital will help drive our next phase of growth.
The company’s customers include AIG, Nortel Networks, FXall, and Hutchison 3G.
