.406 Ventures leads $2.45 mln seed round for Jisto


Boston-based Jisto, a provider of solutions to extract value from data centers and clouds, raised $2.45 million in a seed financing round led by .406 Ventures. As part of the financing, Greg Dracon, partner at .406 Ventures, and Maria Cirino, managing partner at .406 Ventures, will join Jisto’s board.

PRESS RELEASE

BOSTON–(BUSINESS WIRE)–Jisto, a novel enterprise solution for maximizing computer resource utilization, today closed $2.45 million in seed financing led by Boston-based .406 Ventures. Jisto will debut its Elastic Workload Manager a tContainer World 16 in Santa Clara, CA on February 17-18.

Most servers, whether physical, virtual or cloud-based, are only 20 percent utilized, leaving a huge amount of stranded capacity in data centers. The Jisto Elastic Workload Manager uniquely monitors the resources being used by all applications in real-time and deploys additional workloads into the idle capacity whenever possible. By grabbing and yielding resources in real-time, Elastic Workload Manager mitigates resource contention and allocates resources to higher-priority applications to support peak loads.

Jisto allows additional applications, such as simulation, forecasting, genomic sequencing and other high-performance computing applications, to gain access to the stranded resources within existing computing infrastructure, with no additional hardware purchases. With Jisto, utilization rates can be raised by a factor of two-to-three or more without impacting performance of applications, operating systems or existing servers.

Jisto CEO Mike Feinstein said, “We see a huge opportunity to help enterprises optimize their cloud computing resources. We are thrilled to be partnering with .406 Ventures to help Jisto realize its market potential and demonstrate its value to the industry. .406 Ventures’ deep knowledge of enterprise software, key industry contacts and patient, forward-thinking investment approach is a perfect fit for Jisto’s strategy.”

Jisto will use the funding to continue to build out engineering, sales and marketing. .406 Ventures Partner Greg Dracon and Managing Partner Maria Cirino will join Jisto’s board of directors.

According to Dracon, “Jisto is a unique combination of an excellent and resourceful technical team, proven management skills, strong technology and a large market opportunity that fits exactly within the .406 Ventures investment strategy. We look forward to helping them take advantage of this important market opportunity.”

About Jisto
Jisto allows enterprise customers to maximize their data center resources. Founded in 2013 by Aleksandr (Sasha) Biberman and Andrey Turovsky, Jisto is a MassChallenge 2014 Silver winner and a Edison Award 2016 Finalist. Jisto is headquartered in Boston, MA. For more information, visit the Jisto website and follow the company on Twitter.

About 406 Ventures
.406 Ventures is an early stage technology venture capital firm investing in enterprise technology companies founded by visionary entrepreneurs. .406 Ventures was founded in 2005 and has ~$600M under management. The .406 Ventures team is comprised of entrepreneurs and operators who became investors to apply real world experience and strong company-building skills to create value for entrepreneurs and LPs. The firm leads, or co-leads, first institutional investment rounds in market-changing Enterprise IT companies and world-class operators, who move quickly and embody successful entrepreneurial DNA with their passion, creativity and endurance. www.406ventures.com

 

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