New World Angels Pumps $8.5 Million into VirtualWorks
BOCA RATON - New World Angels, a Florida-based angel group that invests private capital in high-growth entrepreneurial companies, today announced that it led the recently-closed $8.5 million Series A private financing round in VirtualWorks Group, Inc. VirtualWorks, which formally launched on June 1, 2011, is led by Edward Iacobucci, a prominent high-tech entrepreneur. The company is pioneering a new category of enterprise software, called content virtualization, which solves the growing problem of data sprawl.
The Series A investor group consists of domestic and European institutional, high net-worth and strategic private equity investors. Skyway Capital Partners LLC served as financial advisor to VirtualWorks. The capital raised in this round will be used as operating capital to execute on the company's vision and strategy.
VirtualWorks has developed an innovative enterprise information framework, the Virtual Index Architecture™ to contain and reverse the overload of information suffered by organizations of all sizes. The approach works by indexing all types of data and virtualizing the content amassed by companies, so employees can rapidly and securely retrieve files from any application, location or device – whether that data is structured or unstructured, stored in the cloud, or hosted locally.
"This visionary new company is tackling a big pain point with a smart strategy and proven executive leadership," said Rhys L. Williams, President of New World Angels. "VirtualWorks is on a mission to ensure that organizations can reap the most value from business-critical data and turn it into a true asset, instead of a management liability. Led by Citrix co-founder, Ed Iacobucci, VirtualWorks appears to be perfectly positioned to solve one of today's biggest IT challenges. Our mission is to find, fund and support Florida-based entrepreneurial companies across a broad range of industries and markets, where the New World Angels' members can add value to the investment process and the business. VirtualWorks is an attractive complement to our portfolio."
"This funding is the keystone to the operational launch of our company," said Ed Iacobucci, chairman and CEO of VirtualWorks. "New World Angels played a critical role in structuring and organizing the financing and the investor group. With the necessary capital now in place, we are on schedule to deliver our first content virtualization platform this summer. Our goal is to unleash the value and power of information for companies, so they're more informed, nimble, competitive and productive."
