DeviceVM, latest PC virtualization co., raises $10M

DeviceVM is a secretive San Jose start-up founded in August that says it wants to make PC simpler to use with “virtualization” technology.

The co-founders are Mark Lee, Thomas Deng and Robert Ha, the same team that co-founded OSA Technologies, of San Jose, which was sold to Avocent in 2004 for $100 million.

It joins a host of companies entering the virtualization area. Virtualization is a loose term that can applied to a number of technologies. Loosely defined, it is a technology enables companies and individuals to create a desired computing environment, whether it be an operating system or a certain set of applications, on any computer. The move has spawned all kinds of companies with “VM” in their name, and this is just the latest.

It is still secretive, but says on its web site that it has raised more than $10M in a first round of venture capital from a bunch of investors.

They include Storm Ventures, DFJ DragonFund China, Tim Draper, PC manufacturer AsusTek Computer venture group iD Innovation (started by Acer Group founder Stan Shih), Harbinger Ventures and other angel investors affiliated with major PC manufacturers (Lenovo, Foxconn, Quanta, Compal).