Virtualization and cloud management software maker Turbonomic Inc. has raised $50 million in a late Series E round raised exclusively from General Atlantic LLC.

As part of the deal, Gary Reiner, a former chief information officer at General Electric Co. and current operating partner of General Atlantic, will join the company’s board of directors.

Founded in 2008, Turbonomic offers an automatic platform that enables heterogeneous environments to self-manage with an aim to assure the performance of any application in any cloud based environment. The platform utilizes a patented decision engine that dynamically analyzes application demand and allocates shared resources in real time to maintain continuous application health.

The company claims it is one of the fastest growing technology companies in the virtualization and cloud space with over 1,600 chief information officers relying on Turbonomic to manage 2.9 million dynamic workloads in real-time.

According to Forbes, the round was raised at a valuation of $800 million. Turbonomic, which changed its name from VMTurbo last year, wasn’t actively looking to raise money when it received the interest from General Atlantic. But with Reiner coming as part of the deal, the company decided to proceed with the new round despite still having money in the bank from the last round.

Reiner brings a wealth of experience to the company, not only from his time as GE’s CIO, but also through his experience sitting on the boards of Citigroup, Hewlett Packard Enterprise Co., AppDynamics Inc., Box Inc. and Seismic.

“As a CIO, I lived with the challenge of assuring application performance,” Reiner said in a statement. “Delivering autonomic software that matches application demand with infrastructure supply in real-time to maximize performance and efficiencies is an immediate need of the marketplace, as enterprises transform how their IT infrastructure is managed. [I] believe there is an opportunity to make Turbonomic’s industry-leading autonomic performance platform the standard for hybrid cloud management.”

Including the new round, Turbonomic has raised at least $110 million, though the amount of its Series C round was not disclosed. Previous investors include Bain Capital Ventures, Highland Capital, Globespan and Iconiq. The company said it would use the new funding to invest further in research and development.

Image courtesy of Turbonomic