Vinny Smith’s To-ba Capital took a stake in another Orange County company. San Juan Capistrano-based software maker Cirro raised $8 million in its first insti- tutional fundraising round, led by the Irvine-based venture capitalist firm launched last year by the former chairman and chief executive of Quest Software Inc.
Other backers include existing investors Frost Venture Partners and Corona del Mar-based Miramar Venture Partners.
Stuart Frost, Cirro’s founder, launched Frost Venture last year as an incubator and “fund aggregator” to start and nurture companies. Frost Venture has seven companies in its portfolio and has raised about $25 million in angel funding, Frost told the Business Journal in June, adding that it plans to raise another $40 million or so.
Cirro will use the proceeds to fund product development and the hiring of sales, marketing and other professional services.
The company has been closely followed in data center circles for its promising technology that’s garnered plenty of industry accolades and awards.
—Chris Casacchia
