Virtual world and online community site Gaia Online has raised $11 million in Series C funding from Institutional Venture Partners. Gaia raised $12 million in 2007 from DAG Ventures, Benchmark Capital and Redpoint Ventures and its total funding to date is now $32 million. Tellingly, none of the older investors participated in the latest round, suggesting that the San Jose, California-based company is still burning cash.
Reiko Uchida, 25 July 2008
RightScale, a Californian start-up formed in in 2007, has raised $4.5m in Series A funding from Benchmark Capital. The company provides a simple front-end console for Amazon Web Services, and provides another example of the current fascination of 'cloud computing' for Enterprises.
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Simon Fox, 25 April 2008