General Atlantic leads new $50 million investment in Turbonomic
Boston and New York, January 23, 2016: Turbonomic, delivering autonomic performance for the hybrid cloud, today announced it has secured an additional $50 million in financing led by General Atlantic, a leading global growth equity firm. General Atlantic joins existing investors Bain Capital Ventures, Highland Capital, Globespan, and Iconiq. Gary Reiner, former Chief Information Officer of General Electric and current Operating Partner of General Atlantic, will join the company’s Board of Directors.
Over 1,600 CIOs rely on Turbonomic to manage 2.9 million dynamic workloads in real-time, improving application performance while reducing costs – not only in their on-premises data centers, but also in their public, private, and hybrid clouds – managing both legacy and cloud-native applications.
“General Atlantic is a world-class investment firm, and Gary Reiner is a world-class IT leader and strategist,” said Bill Veghte, Executive Chairman of Turbonomic. “Their investment and participation is a tribute to the progress the company is making and the opportunity in front of us to dramatically improve IT efficiency and experience. We’re thrilled to have Gary on board to help us grow and scale.”
In addition to joining the board of Turbonomic, Reiner serves on the boards of Fortune 50 enterprises such as Citigroup and Hewlett Packard Enterprise, as well as fast-growing technology firms like AppDynamics, Box, and Seismic. Before joining General Atlantic in 2010, Reiner served as CIO of General Electric, where he led M&A, Sourcing, IT, Operations, and Quality. Prior to GE, Reiner was a partner at Boston Consulting Group, where he drove strategies and operations improvements for high-technology businesses.
“As a CIO, I lived with the challenge of assuring application performance. Delivering autonomic software that matches application demand with infrastructure supply in real-time to maximize performance and efficiencies is an immediate need of the marketplace, as enterprises transform how their IT infrastructure is managed. We look forward to working with Bill, Ben, Shmuel, and the team to help their customers navigate these transitions,” said Reiner. “We believe there is an opportunity to make Turbonomic’s industry-leading autonomic performance platform the standard for hybrid cloud management.”
Turbonomic’s autonomic performance platform for the hybrid cloud enables environments to self-manage to assure performance of any application. Turbonomic’s patented autonomic decision engine dynamically matches application demand with infrastructure supply in real time, to maintain environments in a healthy state.
Launched in 2010, Turbonomic is one of the fastest growing technology companies in the virtualization and cloud space. Turbonomic’s autonomic platform is trusted by thousands of enterprises to accelerate their adoption of virtual, cloud, and container deployments for all mission critical applications.
To learn more about Turbonomic, visit turbonomic.com
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com
Edelman for General Atlantic