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In local business news for the New River Valley, as corporate America pushes to become more eco-friendly, “Green IT” has moved to the forefront of the information technology industry. The Center for Innovative Technology’s GAP Fund has invested $100,000 in MiserWare, Inc., a Blacksburg, Va.-based software startup that figures to be a leading player in that movement.
“MiserWare seeks to respond to the growing demand to decrease power consumption in the data center,” said MiserWare’s CEO, CTO and founder, Kirk W. Cameron. “CIT’s investment will help us in reaching this goal as we continue to develop the core software.” MiserWare offers users value in software power management across a network of PCs and servers, which functions in both Windows and Linux operating systems, helping corporate and government clients achieve breakthrough cost and energy savings. When fully implemented, MiserWare’s innovative approach offers projected reductions in system energy costs by up to 60 percent, ensures no loss of performance or productivity, and provides the flexibility to support organization-specific policies. “Green IT is an emerging sector of the multi-billion dollar network and server market and is projected to be the number one strategic technology for business,” said Peter Jobse, CIT President and CEO. “MiserWare’s innovative approach to serving this market positions the company for success as it continues to grow.” CIT GAP Funds is a family of venture funds designed to bridge the gap between "family and friends" funding and early-stage equity investments for Virginia-based technology and life science companies. CIT GAP Funds invests in seed-stage firms with a high potential for successful commercialization, rapid growth and downstream private equity financing. MiserWare is the CIT GAP Funds thirtieth investment. Tom Weithman, VP, CIT Entrepreneur and GAP Fund Manager, said, “These early stage seed investments have attracted an additional $23 million in private equity investments, helping to accelerate entrepreneurship and innovation in the Commonwealth.”
Summaries of the CIT GAP Funds portfolio companies are available at
http://www.citgapfund.org/portfolio/gapfundI.html.
About the Center for Innovative Technology, www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers. CIT is now listed on the GSA MOBIS Schedule, Special Item Numbers (SINs) SIN 874-1 for Consulting Services and SIN 894-2 for Facilitation Services. Its CAGE Code is 1UP71.
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