Based in Japan and India. Has led to 1 successful fundraise in Japan. Been working the space of Venture Capital and Private Equity for the last 3 years.

The Center for Innovative Technology CIT announced today that its CIT GAP Funds has closed an investment in CirrusWorks a Virginia-based technology company that builds network control platforms to help IT managers run their networks smarter faster and more reliably

CIT President and CEO Pete Jobse said CirrusWorks has developed a truly innovative technology to meet emerging problems facing local area networks caused by mobile users cloud systems and rich bandwidth consumption Our investment will enable CirrusWorks to help organizations run their networks more efficiently and it demonstrates our commitment to providing entrepreneurs with the necessary funding to develop solutions that solve the growing technology challenges facing enterprises today ‘

CirrusWorks makes software devices that help IT managers control access data consumption and resource allocation on their local network systems Their patented technology gives operators control over who gets what bandwidth and when – all on a fully automated intelligent platform CirrusWorks devices are installed in small to medium enterprises as well as public commercial and government facilities including schools hospitals hotels and retail locations

Co-Founders David Giannini and Michael Lovett said CirrusWorks addresses the most burning problems of IT managers today – how to deal with the explosion of data brought on by smart phones and cloud computing The bring your own device BYOD phenomenon coupled with video streaming and the robust data requirements of cloud-systems have put a critical burden on IT managers Our patented algorithms provide network operators with a more advanced and more affordable set of network management tools compared to competing products automating a lot of the heavy configuration currently required to optimize a complex network environment Our mission is to make life easier for owners operators and users of local area networks and we are just scratching the surface of a huge need in the marketplace With support from CIT GAP Funds we can expand our market presence drive product development and help bring some sanity to an increasingly chaotic data management world ‘

CIT GAP Funds is a family of seed- and early-stage investment funds placing near-equity and equity investments in Virginia-based high-growth technology life science and clean technology companies

Tom Weithman VP CIT Entrepreneur and Managing Director of the CIT GAP Funds said We are proud to support entrepreneurs like David Giannini and the CirrusWorks team because we believe in the importance of investing in revolutionary technologies that will lead to the enhancement of the innovation economy ‘

Since its 2005 launch CIT GAP Funds has invested in over 80 companies across the Commonwealth of Virginia deploying more than 9 million of public funds and attracting over 125 million more in private funding

About the Center for Innovative Technology http://www cit org
Since , CIT a nonprofit corporation has been the Commonwealth’s primary driver in developing innovation-based economic development strategies and opportunities CIT accelerates the next generation of technology and technology companies through commercialization capital formation market development and revenue generation services To facilitate national innovation leadership and accelerate the rate of technology adoption CIT creates partnerships between innovative technology startup companies and advanced technology consumers

About the CIT GAP Funds http://www citgapfunds org
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs co-investors and the Commonwealth of Virginia CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board IAB This independent third-party panel consists of leading regional entrepreneurs angel and strategic investors and venture capital firms such as New Enterprise Associates Grotech Ventures Valhalla Partners Harbert Venture Partners HIG Ventures Edison Ventures In-Q-Tel Intersouth Partners SJF Ventures Carilion Clinic Johnson amp Johnson General Electric and Alpha Natural Resources

Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/CirrusWorks/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co

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