Eucalyptus Raises $20 Million in New VC Funds


Eucalyptus Systems, a Santa Barbara, Calif.-based start-up that is developing a cloud-computing management platform based on open source, says that it has raised $20 million in a new round of funding. New Enterprise Associates (NEA) led the round with original investors Benchmark Capital and BV Capital also participating. With this new funding, Eucalyptus has raised a total of $25.5 million. The company is rumored to be valued north of $100 million and is spearheaded by Marten Mickos, former CEO of MySQL who joined the company in March 2010.

Mickos told me that the company will use the new funds to ramp up its engineering team as it tries to build a cloud-computing platform that can be utilized by corporations, especially for their internal (private) clouds. This is a big problem and Eucalyptus needs to focus on building a robust platform, Mickos said. Eucalyptus, which recently released the 2.0 version of its enterprise software, needs the money to compete in an increasingly crowded market place — from other open-source offerings such as Open Nebula to startups such as VMops (now and Nimbula, not to mention larger players such as VMware (s VMW).

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Photo by Pinar Ozger for GigaOM’s Structure 2010 conference.