German software company SAP leads $40m series D investment round in Intel-backed, cloud management software provider Virtustream.

Virtustream, a US-based enterprise software company which provides cloud management software and infrastructure-as-a-service (IaaS) solutions, has closed a $40m series D investment round led by Germany-based software company SAP, which is already a strategic partner and customer of Virtustream.

Virtustream will use the proceeds to fund additional capacity for IaaS growth and accelerate development of its xStream cloud management software.

Previously, in March 2012, Intel’s corporate venturing unit Intel Capital helped Virtustream raise $15m, joined by venture firms Columbia Capital,…