PHD Virtual Technologies, a US-based machine back-up and recovery service, has raised $2m in its series C round co-led by software provider Citrix and venture capital firm Insight Venture Partners. PHD has also borrowed $2m in venture debt financing from financial services firm Wellington Financial. PHD provides virtual backup to Citrix and VMware. Andy Cohen, vice-president of strategic development and investments at Citrix, said: “PHD Virtual has carved a big niche by appealing to Citrix administrators who are responsible for managing virtual and cloud environments.”

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