Xeround Raises $16M

Bellevue, Washington-based Xeround, a developer of grid database management software, said today that it has raised $16M in a Series B funding round. The round was led by Ignition Partners and Trilogy Partnership. Existing investors Benchmark Capital and Giza Venture Captital also participated. Xeround said that the new funding will go towards sales and marketing, as well as for stepped up research and development of its products. Xeround is developing a cloud-computing focused database product; the firm's R&D operations are based in Israel. More information »