Rainfinity Wraps Up $15M Second Round

Despite losing a $165 million spacecraft somewhere near the south pole of Mars, things did not go all bad for NASA last week.

In its incubation, the founders of Rainfinity worked with a team of NASA engineers to develop a clustering technology for space-born computer systems. On Dec. 1, the company, which was incorporated to commercialize this technology, raised $15 million in its second round of venture financing.

Rainfinity’s software, which was introduced to the market in April, detects hardware and software failure and automatically shifts Internet traffic to a healthy gateway without interrupting service. In addition to NASA, Rainfinity software is used by BellSouth, The Chicago Stock Exchange, and Dresdner Bank.

“Any company that relies on the Internet for e-commerce wants to make sure its Internet operation never breaks down,” said Gil Margalit, Rainfinity’s president. “We can provide the same reliability as telephone service.”

New Enterprise Associates of Baltimore led the Series C round, which also included a first-time investment from Alloy Ventures. Existing angel investors also returned for the round.

“The proceeds will last at least 12 months, depending on how aggressive we want to be,” Margalit said. “We may then raise another [private round] of capital or go public.”