SOURCE: Pano Logic

Pano Logic

February 24, 2010 08:10 ET

Pano Logic Announces $20 Million Funding

Mayfield Fund Leads Third Round of Funding for Zero Client Computing Platform

MENLO PARK, CA--(Marketwire - February 24, 2010) - Pano Logic, the leader in zero client desktop virtualization (VDI), today announced it has secured $20 million in a Series C round of financing led by venture capital firm Mayfield Fund. The funds will be used to support continued technology innovation and global market expansion of Pano Logic's breakthrough zero client virtual desktop computing platform, which is redefining the economics of endpoint computing. Unlike all other virtual desktop solutions, the Pano System removes 100% of the processing power from the desktop to the data center, fully centralizing management and eliminating endpoint complexity with one complete solution.

Pano Logic, which tripled sales in 2009, solves major challenges inherent in the current PC-based, client-server computing model, while providing end users with the same, familiar PC-like Windows experience. Its technology radically reduces computing total cost of ownership, by as much as 67 percent, by eliminating endpoint device management, support and obsolescence. Instead, end users connect to their virtual machine with a zero client that contains no processor, no operating system, no memory, no drivers, no software and no moving parts. This represents a major shift from highly complex and costly PC and thin client computing solutions.

As a Mayfield Fund portfolio company, Pano Logic joins a long list of groundbreaking technologies such as Compaq, SGI and Citrix that have revolutionized computing. "Pano Logic's technology for desktop virtualization represents a paradigm shift in computing, similar to how many of our portfolio companies have changed the game in past decades," said Navin Chaddha, managing director of Mayfield Fund. "Pano Logic's zero client technology, built for virtualization, will free customers from the high cost and overly complex management burdens of PC and thin client computing. Their widespread adoption, with over 25,000 systems in production, is proof that companies no longer need processing power at the endpoint to provide the most optimum user experience."

"Our zero client computing platform has achieved mainstream penetration throughout the U.S. and key global markets, and we're reaching watershed momentum. Businesses are learning there's no reason to support PCs or so-called thin clients. Our advances in VDI technology remove endpoint device management from the equation and centralize computing for simpler, more secure and cost-effective management," said John Kish, CEO of Pano Logic. "With Mayfield Fund, in addition to Goldman Sachs and Foundation Capital, on our side, we're poised to proceed with our aggressive growth plans and achieve even deeper market penetration. We're proud to join such an elite family of portfolio companies backed by Mayfield Fund."

"Pano Logic has achieved dramatic and consistent growth throughout 2009 as businesses embraced the ease and savings of zero client computing and eliminated costly and troublesome PCs and thin clients," said Ashmeet Sidana, general partner of Foundation Capital. "Demand for desktop virtualization is exploding and Pano Logic will become the chief beneficiary as more businesses discover how simple Pano Logic makes it to extend the benefits of virtualization to the desktop. As a founding investor, we welcome Mayfield Fund, and look forward to continuing to work with the Pano Logic team to help build a strong, customer-focused business."

Pano Logic also announced that Mayfield's Chaddha is joining Pano Logic's board of directors. Chaddha is a veteran entrepreneur and venture investor, ranked on the Forbes Midas List of top 100 dealmakers at No. 11 in 2009 and No. 10 in 2008.

About Pano Logic

Founded in 2006, Pano Logic develops an integrated virtualization-based software and hardware solution that delivers a superior desktop computing experience. The company is privately held and backed by leading investment firms Foundation Capital, Goldman Sachs and Mayfield Fund. Pano Logic is headquartered in Menlo Park, California. For more information about Pano Logic, visit http://www.panologic.com.

Contact Information

  • Media Contact:
    Renee Deger
    GlobalFluency
    Email Contact
    650-433-4153