Marathon Technologies Stretches B Round to $13.5M
Marathon Technologies has socked away more cash, about five months after announcing the arrival of new CEO Jim Welch. The Littleton, MA-based maker of fault tolerance software has wrapped up a third closing of its Series B round of venture capital, bringing the total funding in the round to $13.5 million, according to a regulatory filing.
Welch wasn’t available for comment at his office late Tuesday afternoon. Marathon had raised a total of $7 million in the financing round by August, with backing from Waltham, MA-based venture firms Atlas Venture and Longworth Venture Partners, as well as Sierra Ventures, of Menlo Park, CA. In September, Wade talked to Welch, a former IBM executive, about the CEO’s plans for finding additional markets for the firm’s software after a period of focusing on technology development at the company.
“Today our tech is very much sold and used as a point solution,” protecting Windows servers, Welch told Wade. “But the opportunity in the enterprise is obviously much more broad. I want to see us protecting Exchange servers or fetal heart monitors or whatever it may be. We need to continue to expand our capabilities for a heterogeneous world.”
Marathon‘s software is designed to provide almost seamless transitions of computing workloads from downed servers to operational servers. In 2008, the firm launched software for switching workloads in a similar fashion between virtual servers and formed a partnership with Ft. Lauderdale, FL-based Citrix Systems (NASDAQ:CTXS), a major provider of virtualization software. Marathon also has an existing technology partnership with Redmond, WA-based Microsoft (NASDAQ:MSFT).
We’ll be watching for Marathon’s next big move.