Xeround, the maker of a cloud-computing database dubbed the Intelligent Data Grid, has raised $16 million in a second round of funding.
The Bellevue, Wash.-based company (which was founded in Israel) says the IDG stands out because it allows applications to work without knowing where data is stored, or in what format. Xeround is targeting the telecommunications industry initially, where it can manage subscriber data across networks.
The round was led by Ignition Partners and Trilogy Partnership, with participation from existing investors Benchmark Capital and Giza Venture Capital. Xeround’s total venture funding is now nearly $30 million, according to John Cook of the Seattle Post-Intelligencer.
