Wellington Financial Provides $2 Million Growth Capital to PHD Virtual Technologies Inc.
PHILADELPHIA and TORONTO, March 7, 2013 /PRNewswire/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a US$2 million venture debt financing for Philadelphia-based PHD Virtual Technologies Inc. PHD Virtual provides virtualization backup and monitoring software for physical, virtual and cloud environments.
"With more than 5,000 customers worldwide and its rapid growth over the last three years, PHD Virtual has demonstrated it is a leader in the virtual backup and monitoring solutions space," said Mark Usher, Partner of Wellington Financial. "PHD has all of the makings of a world class company and we are very excited to add them to our portfolio of high growth innovation companies."
James Legg, President and CEO of PHD Virtual said, "Partnering with Wellington Financial allows us to continue to invest in our growing business and take advantage of the opportunities we see in this growing and exciting market. We look forward to working with them."
PHD Virtual is backed by leading venture capital firms, including Insight Venture Partners and has attracted a strategic investment from Citrix Systems (CTXS-Q).
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in Toronto, Canada, and Santa Monica, California. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada's largest institutional investors, pension funds, family offices and crown corporations. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
About PHD Virtual Technologies
PHD Virtual provides the absolute best value in virtual backup and monitoring for VMware and Citrix platforms. More than 5,000 customers worldwide rely on our products because they are effective, easier to use and far more affordable than competitive alternatives. Delivering the highest performance and most scalable cross platform backup and monitoring solutions on the market and pioneer of Virtual Backup Appliances (VBAs), PHD Virtual Technologies has been transforming data protection for virtual IT environments since 2006. Its PHD Virtual Monitor provides a complete, end-to-end solution for monitoring virtual, physical and application infrastructures in VMware and Citrix environments. For more information, please visit: http://www.phdvirtual.com/
SOURCE Wellington Financial LP