Ex-Googlers back DeviceVM, a company that loads your computer faster
DeviceVM, a maker of software that lets you check your email, chat and surf the web within seconds of turning on your computer, has raised a small third round of funding.
The backing, $1 million, comes from Merus Capital, the new firm founded by departed business development executives at Google and Microsoft.
The company hopes Merus can use its connections with computer manufacturers to get its software more widely distributed.
San Jose, Calif.-based DeviceVM’s software is called Splashtop, and is built into the motherboards of desktop and laptop computers. It is available for ASUS desktop PCs that run Windows or Linux. ASUS plans to introduce Splashtop to its line of laptops, as well (see review here). It is also aiming for widespread adoption by other PC manufacturers around the world.
The investment is notable because it is the first investment the firm, founded by Salman Ullah, the recently departed vice president of business development at Google, Sean Dempsey, former Principal of Corporate Development at Google, and Peter Hsing, former Managing Director of Corporate Strategy at Microsoft (our coverage of Ullah’s new fund, here). Separately, Larry Augustin, founder of open source code repository SourceForge, has also joined the DeviceVM board of directors.
While Merus says it is focused on early stage investments, DeviceVM has already raised two rounds of venture funding from a large group of investors, for a total of around $21 million before the Merus investment.
The company raised more than $10 million last fall (our coverage) and another $10.5 million in 2006 (our coverage).
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About the Author, Eric Eldon
Eric currently covers digital media technology and business news, especially what's happening on social networks and their platforms. He also writes and edits stories about venture capital, and lots of other stuff, too. He started at VentureBeat in the spring of 2007, half a year or so after Matt Marshall left his reporting job at the San Jose Mercury News to found the site. Eric previously cofounded a startup called Writewith, that was building editorial software for newspapers and other groups of writers. The startup didn't work out, but he learned a lot.