Application continuity market gets boost with investment
Application continuity vendor Teneros (DEMOfall 05) today said it has secured $40 million in late-stage funding, led by Advanced Equities Inc. (AEI). The company said that total capital raised for Teneros is $84.5 million, with investments by Goldman Sachs, New Enterprise Associates, Sevin Rosen Funds and STAR Ventures.
The company's Application Continuity e-mail appliances aim to ensure 24x7 operation of mission-critical applications, with the goal of 99.99 to 99.999% uptime for businesses running Microsoft Exchange. The appliances are monitored, updated and maintained remotely through the company's Network Operation Center, providing less burden for in-house IT staff.
Teneros said it plans to use its fourth-round funding to "cement its leadership in the market," as well as "leverage its financial strength to be the preferred vendor of application continuity solutions."
