Akorri Raises $10.1M Series E from Montagu Newhall

Akorri, a leading provider of virtual infrastructure and data center management software, raised $10.1 million in Series E venture funding from Montagu Newhall. This round of expansion capital brings Akorri’s total funding to $58.5 million. Venture capital investors from previous rounds include Matrix, Northbridge, and BlueStream. Akorri’s software gives users a holistic view of the data center, and lets IT administrators know how relationships between servers, storage, and applications affect one another. The local software company competes with market heavyweights EMC and HP, and plans to use the new funding for ongoing product development and to accelerate customer acquisition. CEO Allan Wallack believes the market is taking off and that Akorri has the opportunity to be a major player in the market. After the new funding and recently being named to WSJ’s top 50 venture-backed company list, it looks like Akorri is well on its way.