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6fusion Raises $3 Million Round of Financing, Relocates to North Carolina
DURHAM, NC – August 23, 2010 – 6fusion, a company that has developed a system to take control of third party computing resources and create a single utility to meet the needs of the IT Service channel announced today that it has raised a $3 million round of venture capital financing. In concert with funding, the company has moved its headquarters to the Research Triangle region of North Carolina.
The $3 million round, which is the company’s first institutional financing, was led by Intersouth Partners, and will be used to add to its senior executive team and expand research and development as the company continues to scale. “6fusion is growing at a fierce pace,” said John Cowan, co-founder and CEO of 6fusion. “Intersouth is an important part of our future and will be a crucial partner in helping to enable our success in what has become a quickly evolving industry.”
6fusion has developed an algorithm that radically simplifies the metering, consumption and billing of compute resources, called the Workload Allocation Cube (WAC). The WAC is the most granular and universal metric for metering and delivering Infrastructure-as-a-Service (IaaS). The company also has developed a platform called UC6, which provides a single pane of glass user interface for customers to dynamically provision cloud workloads internal or external to their organization.
Katrin Burt and Mitch Mumma of Intersouth will join the company’s Board of Directors. “IT managers and service providers are seeking an efficient and simple cloud strategy – one that can allow for the scaling up and down of cloud resources while maximizing ROI,” said Katrin Burt, a partner with Intersouth Partners. “6fusion allows partners and customers to access their resources and manage them from anywhere in the world in a seamless, unified fashion.”¬¬
The company will be temporarily housed at Intersouth’s offices in Durham, North Carolina until it finalizes its new headquarters location.
6fusion considered every major market before deciding to relocate the company to Research Triangle Park. “The Research Triangle has a rich history of strong infrastructure development and a cadre of growing companies, which makes it an exciting place to locate our company,” said Cowan. “As cloud computing continues to redefine IT delivery, we look forward to playing an important role in establishing the Research Triangle as a key location for the industry.”
6fusion is a new venture created by a group of IT professionals to help other IT and telecommunications service providers enter and adapt to the new and profitable world of managed or hosted technology services by co-creating value and providing a single Utility Computing platform from which they can build, launch and license profitable long-term revenue initiatives. 6fusion’s unique, patent-pending technology creates a single unit of measurement for calculating and billing x86 computing consumption for any software application run on any hardware platform. Through a combination of technology, investments and partnerships with world class data centers, 6fusion provides unprecedented ROI and time to market for VARs, MSPs, SaaS Providers, ISPs, ISVs and end customers.
John Cowan, CEO
919.493.6640, ext. 108