InovaWave Secures $2M

AUSTIN, Texas -- InovaWave, Inc., which develops the industry’s first software solution proven to more than double the performance of server and desktop virtual machines and the applications that run on them, today announced it has secured $2 million in Series A financing from Silverton Partners. As part of the funding round, Bill Wood, general partner for Silverton Partners, joined the InovaWave board of directors.

InovaWave also announced the appointment of John Kellar to the position of vice president of research and engineering. In his new role, Mr. Kellar will direct and oversee all product development activities as the company continues to support growing demand for its virtualization performance boosting software. A distinguished and recognized leader in research and engineering, Mr. Kellar’s career spans more than 22 years in the fields of operating systems, cryptography and algorithms. He held key engineering and development positions with Quickshift, Interactive Silicon, Tandem/Compaq and Clam Associates. Mr. Kellar holds multiple degrees in electrical engineering and has prosecuted more than 30 U.S. patents.

“InovaWave has developed a unique technology solution for the virtualization market that will transform the way organizations architect and run their desktop and server environments,” said Bill Wood, general partner, Silverton Partners. “We look forward to working with the company’s talented management team to help organizations everywhere improve the performance of their networks and applications.”

InovaWave Inc.