Relicore To Close $14M Funding Round



Application-management software developer Relicore this week expects to close $14 million in second-round venture-capital funding, raising the company's total funding to $25 million.

The company, which is moving from beta tests of its Clarity product to rollouts with a half-dozen high-tech companies and banks, plans to use the funds for product development and marketing, CEO Firdaus Bhathena says.

Relicore says Clarity automates the complexity of running multiple applications on distributed systems by providing IT administrators with a picture of all their apps that tracks changes and shows interactions among them.

Matrix Partners led the latest investment round, joined by previous investors, including Highland Capital Partners.

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