Intel is looking to increase its exposure to cloud computing by targeting a portion of its $200 million venture capital investment plans toward promising startups.
The company announced this week that its investment arm, Intel Capital, has taken part in a financing round of a Washington, D.C.-based startup called Virtustream. Virtustream is an infrastructure services company providing strategy, integration and managed services to companies looking to leverage the enterprise cloud.
Virtustream offers a secure cloud platform called xStream. Intel said its investment was earmarked to continue the development of the xStream cloud computing platform as well as its virtualization technologies. Virtustream also recently announced it had acquired two data centers from NaviSite in Vienna, Va., and San Francisco.
“Virtualization technologies play a crucial role in allowing businesses to fully leverage the enterprise cloud,” Intel Capital’s managing director Bryan Wolf said in a statement announcing the financing. Wolf said Intel was attracted to the company’s approach to combining disaster recovery, security and cloud services in one offering.
Intel has said it sees cloud computing as a core investment area for its venture capital funds. Last November it made a similar investment in Joyent, a company that was among the first firms to launch a cloud computing service in mainland China.
Virtustream was founded in 2001 and says its target market is companies with revenue in the range of $250 million and $5 billion.
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