INDUSTRY

Liquid Computing Inc., a developer of a new class of scalable computing system, today announced the completion of its Series B financing in the amount of US $27.7 million. The funding comes after the recent launch of Liquid Computing’s Interconnect Driven Server, LiquidIQ. The financing will support Liquid Computing’s commercial expansion in the North American and European Enterprise High Performance Computing and Service Provider (xSP) markets. The funding was led by Newbury Ventures, based in the San Francisco Bay Area. "The market disruption associated with converged offerings like storage devices from EMC, Blackberries from RIM and Voice Over IP from Cisco, have proven to be fruitful," said Ken Wigglesworth, Senior Managing Director from Newbury Ventures Canada. "Liquid Computing's vision, key customers and demonstrated ability to execute, have positioned the company to fundamentally alter the form, function and economics of scalable computing." Liquid Computing had an oversubscribed beta program filled with leading organizations within the oil and gas, financial services, government research, defense and SaaS sectors. LiquidIQ merges computing, networking and broadband into a highly integrated, optimized and controlled system. In initial tests, LiquidIQ delivers a five times or greater improvement in sustained performance scalability over commercially available servers and switches being embedded into offerings today. "By staying focused on solving the underlying communications and control bottlenecks that are pervasive in today's data centers, we have paved a solid path towards broader product commercialization," said Brian Hurley, CEO of Liquid Computing. “With the increasing need for scalable computing across a broad range of market segments, we expect considerable revenue growth across North America and Europe.” Newbury Ventures was joined by existing investors that have previously invested in the company. They include Vengrowth, ATA Ventures, Business Development Bank of Canada, Export Development Canada, Axis Investment Fund Inc. and Dr. Adam Chowaniec. “The need for flexible computing systems that deliver ground breaking sustained performance and granular control at dramatically better lifecycle economics is the new face of scalable computing,” said Jay Morrison, Senior Managing Director from Newbury Ventures. “Liquid Computing has groundbreaking technology and we expect LiquidIQ to significantly impact the market.”