CloudHealth Secures $3.2 Million of Extension Funding
Rapid Customer Adoption of Industry's Most Comprehensive Cloud Management Platform Fuels Growth
BOSTON, Mass., June 17, 2014-- CloudHealth Technologies, the pioneer in IT service management for the cloud, announced today it has secured a $3.2 million extension of its Series A funding round, bringing the total to $7.7 million. The funding, which is from existing investors .406 Ventures and Sigma Prime Ventures, will be used to support the company's customer growth, platform enhancements, expansion of services and increased hiring efforts tied to sales and engineering.
"When we invested in the company last year, we knew we were investing in a management team and technology that was poised to address the significant challenges emerging in one of the most disruptive technologies we've seen, cloud computing," said Bob Davoli, Managing Partner of Sigma Prime Ventures. "No other cloud management platform delivers the level of business value provided by CloudHealth and we look forward to playing a role in the company's continued success."
CloudHealth provides an integrated platform that gives users a comprehensive view of their entire cloud environment, enabling them to easily align cloud operations with business objectives. With CloudHealth, enterprises and service providers are able to eliminate the complexity of cloud management, and focus on more strategic business initiatives. CloudHealth currently has more than 50 of Amazon's largest customers, including companies such as Acquia, Cloudera, Sumo Logic, Amtrak and Ziff Davis, and is experiencing 40% quarter over quarter growth.
"We've made incredible progress with the CloudHealth platform. Our engagement with some of the largest Amazon Web Services customers and the complex cloud management issues we've worked with them to solve has been instrumental in our progress and significant ramp," said CloudHealth CEO and Co-founder Dan Phillips. "CloudHealth is experiencing significant customer growth, which is why we put the extension in place. This enables us to accelerate additional hires and space immediately and focus on a B round next year."
About CloudHealth Technologies
CloudHealth is changing the way organizations manage cloud environments. The company's cloud management platform aggregates, correlates, and analyzes data from disparate data sources so that enterprises and service providers can align cloud operations with business objectives, reduce costs and ensure service levels are being met, based on an optimally performing cloud environment. The company is backed by .406 Ventures and Sigma Prime Ventures and is headquartered in Boston, MA. For more information, visit www.cloudhealthtech.com or follow us on Twitter @cloudhealthtech and LinkedIn.
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