Turbonomic

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Turbonomic
TypeSubsidiary
IndustryVirtualization
information technology
Founded2008[1]
Headquarters
Boston, Massachusetts
,
United States
ProductsVirtualization management software
Number of employees
553 [2]
ParentIBM (2021–present)
Subsidiaries
Websiteturbonomic.com
Turbonomic Office

Turbonomic is an enterprise software company headquartered in Boston, MA.[3][4] The company's product simulates supply and demand forces in order to efficiently allocate resources such as computing, database, memory and storage.[5] It was updated in 2017 for use with cloud computing platforms.[6]

Turbonomic holds 18 patents (with 9 pending) related to its supply and demand abstraction.[7] In 2011, Gartner named Turbonomic as a Cool Vendor in Cloud Management.[8] In 2016, Turbonomic was listed as the top product for Virtualization Management in a report by IDG and IT Central Station.[9] Turbonomic has made five appearances to the Inc. 5000,[10] and made the Forbes Cloud 100 four times.[11] In 2020, Fast Company named Turbonomic to their Best Workplaces for Innovators List.[12] The company was also deemed a Vendor to Watch in AIOps by Enterprise Management Associates (EMA) for its combination of abstraction, analytics, and automation engine that continually assures performance of a customer’s applications.[13]

To scale Turbonomic's Application Resource Management product, the company has formed alliance partnerships with companies including Cisco[14] and IBM,[15] entering into OEM agreements to bring Application Resource Management to a larger customer base.

Since its founding in 2009,[16] Turbonomic had raised more than $250M from venture capital firms including Bain Capital Ventures and Highland Capital Partners.[17]

In January 2017, Turbonomic announced that it closed a $50 million financing round led by former GE Chief Information Officer Gary Reiner.[18]

The company was originally named VMTurbo and changed its name to Turbonomic in August 2017.[19] Turbonomic acquired ParkMyCloud and SevOne in 2019. As of March 2021, the company had over 3,000 customers, and 36% of the Fortune 500.

On April 29, 2021, IBM announced it will acquire Turbonomic.[20] The acquisition was completed on June 17, 2021.[21]

References[]

  1. ^ "VMTurbo's Tripling Revenues Are IBM's Loss". Forbes. 23 July 2013. Retrieved 3 August 2016.
  2. ^ "Turbonomic Competitors, Revenue, Alternatives and Pricing".
  3. ^ Bernard, GIllis (February 11, 2014). "VMTurbo Will Move to Back Bay & Bulk Up Team in 2014". BostInno. Retrieved 7 March 2014.
  4. ^ "Sources: VMware Sets Sights On Startup VMTurbo As Cloud Management Battle Heats Up". CRN. 30 October 2015.
  5. ^ "Company Overview of VMTurbo, Inc". Bloomberg L. P. Retrieved 2016-08-08.
  6. ^ "Startup's New Software Tells Your Tech Where to Go". June 6, 2017. Retrieved March 28, 2019.
  7. ^ Morgan, Timothy Prickett (May 1, 2013). "VMTurbo trousers $7.5m to bring Adam Smith's hand to more clouds". The Register.
  8. ^ Milind Govekar; Cameron Haight; Donna Scott (11 April 2011). "Cool Vendors in Cloud Management, 2011". Gartner. Archived from the original on September 24, 2018. Retrieved 2014-03-01.
  9. ^ Top Rated Enterprise Technology 2016 report
  10. ^ "Turbonomic Named to the Inc. 5000 List of America's Fast-Growing Private Companies for the Fifth Time". www.turbonomic.com. 2020-08-19. Retrieved 2020-11-19.
  11. ^ McGaughey, Katryn. "Turbonomic Named to the Forbes Cloud 100 for Fourth Consecutive Year". blog.turbonomic.com. Retrieved 2020-11-19.
  12. ^ Company, Fast (2020-07-29). "Best Workplaces for Innovators 2020". Fast Company. Retrieved 2020-11-19.
  13. ^ "Turbonomic Named an Enterprise Management Associates Vendor to Watch". www.businesswire.com. 2020-07-14. Retrieved 2020-11-19.
  14. ^ Kuchipudi, Bali. "Cisco Announces Intersight Workload Optimizer". blog.turbonomic.com. Retrieved 2020-11-19.
  15. ^ "IBM to OEM Turbonomic's Application Resource Management". www.businesswire.com. 2020-05-27. Retrieved 2020-11-19.
  16. ^ "Boston Startup Has Raised $150 Million To Date To Supercharge Apps Running In The Cloud". Forbes. February 21, 2019. Retrieved March 29, 2019.
  17. ^ "VMTurbo #52 on Forbes America's Most Promising Companies". Forbes.
  18. ^ "Former GE Exec Leads $50M Round for Turbonomic". BostInno. Retrieved 2017-01-28.
  19. ^ "Why VMturbo becomes Turbonomic? - ESX Virtualization". 18 August 2016. Retrieved 27 August 2016.
  20. ^ "IBM to Acquire Turbonomic Building Industry's Most Comprehensive AIOps Capabilities for Hybrid Cloud".
  21. ^ "IBM Closes Acquisition of Turbonomic to Deliver Comprehensive AIOps Capabilities for Hybrid Cloud".

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