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Atlantis Computing in urgent refinancing talks
VDI and HCIA software supplier
Atlantis Computing is in middle of "delicate ongoing negotiations" seeking funding from investors.
The Register’s Storage Desk has heard from two sources that admin, sales and marketing employees are being laid off, with engineering remaining for support.
Another source claimed that staff had "not been paid for weeks".
We have asked Atlantis for comment and will update this story if we hear back.
We have learned that Atlantis’ chief marketing officer, Bob Davis, left in April this year to join Plutora as its CMO. The following month his colleague, director of marketing Jeff Keyes, joined him to take up the same role at Plutora. CFO Rick Van Hoesen left in July 2016 as did Seth Knox, VP for products and VP for engineering Pu Zhange, who took up a similar position at Panzura.
Atlantis Computing - the back story
Atlantis was founded by president and CEO Chetan Venkatesh in December 2009. Its funding history looks like this:
- 2007 - $2 million A-round
- 2009 - $3 million B-round
- 2010 - $10 million C-round
- 2013 - $20 million D-round
That is a total of $35m and it seems that Atlantis will now need to secure more funding to keep it going.
Atlantis is a software-defined storage, virtual desktop and hyperconverged system software supplier that uses memory caching to improve performance.
It faces strong competition in the software-defined storage, VDI space and also in the hyperconverged area where the market has rapidly moved in favour of major suppliers such as Dell EMC, Nutanix and HPE. Software HCI suppliers such as Maxta and DataCore have partnership deals with server vendors such as Lenovo.
All this means that software-only HCIA suppliers are scrambling for crumbs on the floor.
There have been no Atlantis press releases issued since last year and we last wrote about it in October 2016, describing the integration of its virtual workspace (desktop) into the Citrix management suite. ®