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Funding Round Up Of Companies Based On Cloud Technologies


Written by  Raja Rao | 15 January 2013
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FundingInvestors interest seems to grow in upcoming companies involved with Cloud based Technologies that do something different from the majority lot. This weekly Funding Roundup is about three such companies. Let us see what these companies do and how are the funds received by them are being utilized and their expertise.

Host Analytics, a cloud-based enterprise performance management (EPM) company, received $17 million in Series D venture financing from its existing investors Advanced Technology Ventures, Trident Capital, StarVest Partners and Next World Capital. The proceeds will be used to fuel the company’s continued rapid growth, including continued North American and international expansion, and to support growth in the company’s strategic partner program. The company claims to have recently completed a record 2012 with revenue growth in excess of 90 percent.

The company provides cloud-based suite of EPM applications, including financial reporting, planning, budgeting, consolidation and analytics. Using this suite, customers can deploy faster, with increased security and a greatly reduced carbon footprint, at a fraction of the total cost of ownership compared to traditional on-premises alternatives.

BetterCloud announced a $5 million Series A round of financing led by David Aronoff of Flybridge Capital Partners, an early-stage firm that focuses on enterprise and consumer infrastructure investing with offices in New York City and Boston. Also participating in the round are New York based Greycroft Partners and TriBeCa Venture Partners with continued support from existing investors Bear Creek Capital and BLH Venture Partners. The Series A raise brings BetterCloud's total funding to $7.2 million.

The company is a provider of cloud management tools for Google Apps and has launched them in the Google Apps Marketplace about six months ago. The platform empowers Google Apps administrators by providing added controls, visibility, automation and more, ultimately accelerating the adoption of Google Apps. The company claims to have already acquired more than 15,000 customers with 5.5 million end-users worldwide, making FlashPanel the fastest growing tool for Google Apps of all time. Funding will be used to expand sales, marketing and product development efforts to support and fuel FlashPanel adoption.

Mirantis, an OpenStack systems integrator, announced that it closed $10million in growth capital financing from Dell Ventures, Intel Capital and WestSummit Capital. Combining its efficient delivery model with the intellectual property that makes building a vendor-agnostic OpenStack cloud simple and predictable, the company is striving to accelerate the adoption of OpenStack clouds by service providers, SaaS vendors, and enterprises. The investment will be used to accelerate Mirantis’ growth in the OpenStack market. The privately-held company was previously financed through sales revenues. As Mirantis claims that it will remain true to its focus of providing a vendor-neutral implementation of OpenStack, free of lock-in hooks or proprietary packaging.

The company has a pool of engineering expertise in OpenStack to provide expertise in building and running OpenStack cloud infrastructure. Its Customers include organizations such as NASA, WebEx, Gap, PayPal, Internap, and AT&T. The company also offers a training program to expand the pool of skilled engineering talent and expertise in OpenStack.

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Raja Rao

Raja Rao

RajaRao is our Cloud Journalist writing for ToolsJournal on Cloud Tools, Latest updates, Cloud Quick Lists and more. He has done his Bachelors of Engineering in Civil and has been in IT for over 15 years with good expertise on CRM, Peoplesoft, SAP, Microsoft and .Net technologies. Raja comes with fantastic blend of Technical, Solutions and Delivery expertise. Loving the concept of ToolsJournal he has joined us full time and has been tremendous help to take this portal forward. 

You can reach Raja at raja@toolsjournal.com 

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