IT Structures Raises $5 Million in Financing Round Led by Sequoia Capital
Tel Aviv, March 31, 2008 - IT Structures the leader in utilizing virtualization to accelerate marketing and sales results, today announced the closing of $5 million Series A financing round. This round was led by Sequoia Capital, a leading venture capital firm which was joined by existing investors Gemini Israel Funds. IT Structures will use the new financing to continue technology innovation and to accelerate, its marketing, sales and customer support efforts in response to the demand for its service, and its growing base of global customers.
"During such difficult economic times, delivering sales and marketing results is a particularly pressing issue for many software solution and appliance vendors", said IT Structures co-founder and CEO, Zvi Guterman. "IT Structures helps our customers do just that, while holding or even lowering their costs of sales. Our investors saw the innovative way we are using virtualization and on-demand computing to change the 50-year old process of physically installing software on an enterprise's servers to run an evaluation or proof-of-concept project. That coupled with integrated prospect communication, collaboration and sales analytics are the innovations our backers saw as industry changing. We are excited to have Sequoia's support in addition to the continued support of Gemini".
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Yuval Baharav
SEQUOIA CAPITAL
yuval@sequoiacap.com
