Platform Solutions raises $37m in series c funding round

Source: Platform Solutions

Platform Solutions (PSI), developer of Open Mainframe Servers, today announced it has received an additional round of investment funding from Blueprint Ventures, Goldman Sachs, Intel Capital, InterWest Partners, InvestCorp and Microsoft Corp.

The Series C round of more than $37 million provides PSI with capital to expand engineering, sales, and marketing resources for its line of Open Mainframe servers designed for enterprise datacenters. PSI System64 product line is unique in its ability to consolidate z/OS, Windows, and Linux operating system in one secure and highly reliable operating environment based on Intel Itanium 2 processor technology.

"PSI was established with the goal of bridging the legacy mainframe and open computing environments in a unified server platform in order to give customers and the industry a true choice in mainframe platforms," said Michael Maulick, President and CEO of PSI. "This new round of funding enables PSI to accelerate development of our open mainframe computing technology and expand our capability for enterprise datacenter deployments."

PSI also announced that it will enter into a joint sales agreement with Microsoft to promote Windows Server technology to enterprise customers operating in a mixed mainframe and server environment.

"The new round of funding marks a major milestone for PSI," according to George Hoyem, a member of PSI's board of directors and managing partner of Blueprint Ventures. "PSI has successfully introduced a truly innovative alternative to today's traditional, proprietary mainframe datacenter, which allows users to optimize their deployment of IT resources," Hoyem said. "With this new round of funding, PSI is now in a very strong position to help customers virtualize their overall server computing requirements. With PSI, they can consolidate the broadest set of data and workloads seamlessly within the same system."

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