Search
 

Texas Venture Capital Firms Put Up $43.5 Mil for Austin, Richardson Businesses

AUSTIN-Two high-tech operations have secured an aggregate $43.5 million in funding from Texas venture capital firms. The Richardson and Austin businesses will use the coffers for branding, development and marketing their wares.

By Connie Gore | Updated on November 07, 2000

AUSTIN-Central Texas venture capital firms are putting up $43.5 million for two businesses in Austin and Richardson. Times N Systems Inc., based here, a computer systems developer for powerful multi-processor solutions, will receive $11.5 million Series B financing from Convergent Investors, Sternhill Partners and Series A investor, Austin Ventures. Time N Systems, founded in 1999, had received $4.1 million in first-round funding in June 1999.

The latest round of financial support will be used for continued development and bringing to market its Teaming technology for scaling storage and clustered computing environments.The technology harnesses maximum computing power by utilizing resources across many computers in a cost-efficient way to increase total system and application performance.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.