Cambridge, UK, 10 July 2008: OpenCloud Limited, the leading supplier of real-time application servers for next-generation telecommunications services, today announced that it has recently closed a $10M second funding round.  Existing institutional investors, Advent Venture Partners, No 8 Ventures and Motorola Ventures together with Silicon Valley Bank provided the $10M debt and equity investment.  The investment will support the global sales, marketing, delivery and support of OpenCloud’s Rhino product set.

OpenCloud Rhino enables the delivery of new person-to-person communications services at a faster pace and at a significantly lower price-point throughout the application lifetime - during service development, deployment and operation.  OpenCloud Rhino, a carrier grade JAIN SLEE application server provides a java-based service creation and continuously available run-time environment for real-time telecommunications applications. OpenCloud is the leader in the development of JAIN SLEE, the JAVA standard for telecoms application and the core standard used by OpenCloud for all its products. 

Deploying an open standards platform, such as OpenCloud Rhino enables third-party companies and service providers to develop product applications and deploy them into any JAIN SLEE-enabled telecommunications network.  This produces a competitive marketplace of companies with portable products and reduces the proprietary vendor lock-in that many telecommunications providers currently experience.

“We are delighted that our existing institutional investors have provided further funding since their initial investment in December 2006,” said Jeff Gordon, Chief Executive of OpenCloud.  “We feel it is a strong endorsement of the work we are doing to develop OpenCloud Rhino and the progress we have made bringing it to a global market and meeting the industry’s need for a high performance platform that can support the extreme requirements.  Likewise, we are proud that the prestigious Silicon Valley Bank recognises OpenCloud as a secure and promising company and in the current economic environment has provided working capital facilities”