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United Devices snaps up $18.2 million

United Devices said Monday that it has raised $18.2 million in a second round of funding, led by GE Equity and Constellation Ventures. Other investors included AOL Time Warner Ventures, Intel Capital, 550 Digital Media Ventures and previous investors Softbank Venture Capital and Oak Investment Partners. Austin, Texas-based United Devices will add representatives from GE Equity, Constellation Ventures and Oak Investment Partners to its board of directors. United Devices develops software designed to utilize idle computer processing power, storage and bandwidth to give companies more resources in each of these areas.

United Devices said Monday that it has raised $18.2 million in a second round of funding, led by GE Equity and Constellation Ventures. Other investors included AOL Time Warner Ventures, Intel Capital, 550 Digital Media Ventures and previous investors Softbank Venture Capital and Oak Investment Partners. Austin, Texas-based United Devices will add representatives from GE Equity, Constellation Ventures and Oak Investment Partners to its board of directors. United Devices develops software designed to utilize idle computer processing power, storage and bandwidth to give companies more resources in each of these areas.