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Xeround Raises Second Venture Capital Financing

Thursday, July 10, 2008 6:07:00 AM PDT | VentureDeal Staff

Bellevue, Washington --  Networking company Xeround Systems announced that it has secured $16 million in its second round of venture capital financing.

Xeround has developed what it calls a "live and scalable Intelligent Data Grid" that has eliminated the dependencies between applications and data, allowing companies to fully virtualize their data processing capabilities.

Ignition Partners led the round, which included Trilogy Partnership, Benchmark Capital and Giza Capital.  The company said it would use the new funding to increase its sales and marketing efforts and continue research and development on its products.

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