rPath raises $7 million

Staff writerOctober 25, 2010 

Raleigh software company rPath announced today that it has raised $7 million in new funding that is earmarked for expansion.

"RPath is uniquely positioned for rapid expansion," CEO Mike Torto said in a prepared statement.

The company's latest funding pushes its total capital raised since it was founded by two Red Hat alumni five years ago to $32.5 million.

The company's enables large and mid-sized companies to access and update their software applications more cost-efficiently, including through "cloud computing" that enables companies to access networks of computers over the Internet. Rpath's technology breaks down applications into manageable bits of information and only delivers what is needed to run them effectively.

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