Data virtualization is a way of creating a “virtual” copy of data on a centralized server to make it accessible to more users. Essentially, the data is distributed across a network, allowing companies to avoid investing in expensive servers for better performance.
The company, which counts Genworth Financial, Travelport and United Healthcare among its customers, also brought on new CEO David Patrick, the former head of Ximian, a company acquired by Novell.
The funding was led by GrandBanks Capital, which is located in Boston, along with GrowthWorks Canadian Capital. Xkoto will also move soon, from Toronto to Boston.
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