Novell announced today it agreed to acquire virtualization data center management software vendor PlateSpin for $205 million. The company raised about $10 million in venture funding in total of which $7.4 million round in November 2005 was led by Scott Maxwell, the managing partner of OpenView Venture Partners and formerly managing director at Insight Venture Partners. PlateSpin’s venture capital backers should have made more than ten times their investments.
Being a strong supporter of software entrepreneurs from Russia, Scott Maxwell supervised Insight’s investments in storage management software vendor Acronis and virtualization software vendor Parallels (formerly SWSoft), both from Russia. His primary focus is investing in and building software companies from the expansion stage.
Scott stroke his first Russian gold when Insight’s portfolio investment Aelita Software was acquired by Quest Software for $115 million in 2004.
Back in 2005, Scott Maxwell connected me with the Aelita founders Andrey Baronov and Ratmir Timashev (ABRT) who then became the first outside investors in Quintura. In early 2006, Scott joined a seed funding round in Quintura and since then provided valuable advice to the company’s management.