Teradici Corp., a Burnaby, B.C.-based fabless semiconductor company focused on solutions for next-generation computer form factors, has raised US$17 million in Series C funding. Telus Ventures led the round, and was joined by return backers Alloy Ventures, Working Opportunity Fund, Skypoint Capital, BDC Venture Capital and Alta Berkeley Venture Partners. The company had previously raised $28 million.
Teradici Corporation, the industry leader in delivering a true PC experience over standard IP networks, today announced completion of a US $17 million series C funding round for its PC-over-IP network-delivered computing technology. With network-delivered computing, users can work at inexpensive computer stations at any site, with all operating systems, applications, and data residing in central datacenters.
Teradici will use the new funds to continue to market its ground-breaking enterprise PC-over-IP technology around the world and to develop a new offering for consumers and small businesses. Customers of the future service would be able to sit at any workspace in the office, remote office, or user’s home, log in to access their system and files from the central datacenter. Customers would have the option of using their own equipment or receiving terminals as part of their contracted service. They receive exceptional graphics, multimedia, audio and USB connectivity without having to purchase, manage or maintain a PC.
Investors in the over-subscribed funding round include TELUS Ventures, the venture arm of TELUS, as well as Alloy Ventures, GrowthWorks Capital, Skypoint Capital, BDC Venture Capital, and Alta Berkeley Venture Partners.
“This is the start of an exciting new era in desktop computing,” said Dan Cordingley, president and CEO, Teradici Corporation. “Consumers and small business owners will become part of the desktop virtualization revolution that is transforming large enterprises. They will benefit not only from lower costs, but will transfer the worry of software management and maintenance to their service provider.”
TELUS Executive Kevin Salvadori Joins Teradici Board
Teradici also announced that Kevin Salvadori, Executive Vice President of Business Transformation & Technology Operations at TELUS, will assume a seat on its board of directors. Mr. Salvadori brings to the board extensive strategic and operational experience in Information Technology systems architecture, application development and maintenance, technology operations, and physical and technology security.
The investment by TELUS supports the organization’s efforts to partner with high-potential companies that offer unique technologies and innovative products that will accelerate growth initiatives within TELUS. “Teradici has been successful in building momentum for PC-over-IP technology and delivering a rich computing and multimedia experience for customers,” said Salvadori. “We are excited to partner with Teradici to transform the way in which desktop computing is delivered and experienced.”
“An investment from TELUS provides significant validation for the robustness of Teradici’s technology,” said Dan Rubin, General Partner, Alloy Ventures. “We are pleased to have Kevin Salvadori join the board to provide his unique expertise to the company.”
TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications company in Canada, with $9.7 billion of annual revenue and 11.6 million customer connections including 6.1 million wireless subscribers, 4.2 million wireline network access lines and 1.2 million Internet subscribers. TELUS provides a wide range of communications products and services including data, Internet protocol (IP), voice, entertainment and video. In support of our philosophy to give where we live, TELUS, our team members and retirees have contributed $113 million to charitable and not-for-profit organizations and volunteered more than 2.1 million hours of service to local communities since 2000. Nine TELUS Community Boards across Canada lead our local philanthropic initiatives. For more information about TELUS, please visit telus.com
Teradici Corporation has developed a unique technology, called PC-over-IP (PCoIP®), which makes network delivered computing a viable corporate computing reality. Founded in 2004 and headquartered in Burnaby, BC, Canada, Teradici for the first time enables an exceptional end user experience for datacenter-based computing. Through a combination of unique graphics algorithms, high-performance silicon processing, and workstation/server add-in cards, the company is changing how personal computers are used, deployed and managed. More information is available at www.teradici.com.