Racemi Announces $2.5 Million Financing, New CEO
ATLANTA, October 6, 2009 – Racemi Inc., a provider of image-based provisioning software used to automate data center operations, announced today a new round of venture funding totaling $2.5 million and the appointment of Lawrence Guillory to chief executive officer. Atlanta-based Gray Ghost Ventures, a long-term supporter of Racemi, is leading a round of financing for the company. The $2.5 million round is in addition to other financing secured by Racemi. Terms of the financing deal were not disclosed. The company will use the funds to further develop its software and continue expanding its business in the U.S., especially with OEM partners.
Guillory has been with the company since March 2008 having been promoted in July 2008 to vice president of sales and marketing. He is a serial entrepreneur having cofounded two other companies where he remains on the board and sits on the board of another technology company. Guillory has 12 years prior experience in software management and business development spanning both start-ups and larger companies.
“Today, we begin a new chapter in the company’s history with a complete focus on serving our OEM partners that tap into Racemi’s technology to enhance their own software products,” said Frank Zaubi, Racemi chairman of the board. “Lawrence Guillory brings entrepreneurial experience and leadership to work with partners so that together we can deliver improved data center management capabilities.”
Former CEO, Richard Stansbury, will remain on the company’s board to ensure a smooth transition. He was instrumental in building the company over the past three years, and led the strategic transition to an OEM business model. Racemi, founded in 2001, has had a number of technology firsts, including patents covering the original server blade and utility computing technologies. Today, Racemi develops software that improves how data centers are deployed and managed. Founder, Charles Watt, serves as the company’s chief technology officer. In March, Racemi was included in the Gartner report, “Cool Vendors in IT Operations, 2009″.