Cloud Elements Closes $3.1M Series A Round of Funding
Company Changing the Face of the API Economy by Enabling Cooperative Apps
DENVER, Colo., June 17, 2014-- Cloud Elements, a leading cloud API integration and aggregation service, today announced it has raised $3.1 million in Series A funding led by Grotech Ventures and Icon Venture Partners, with participation from Galvanize Ventures. The investment will allow the company to expand the development of its growing catalog of SaaS API connectors and innovative API management platform, invest in developer outreach, and accelerate sales and marketing.
Cloud Elements is the first comprehensive integration platform designed specifically for SaaS application providers of all sizes, not just the large enterprises targeted by other vendors. Using Cloud Elements, SaaS application developers can rapidly deliver "Cooperative Apps"; apps that connect instantly with the cloud services used by their customers. The company differs from other integration platform services through its innovative approach to connecting entire categories of cloud services through a single aggregated API. Their developer-centric approach brings ease-of-use to API integration and management.
"The first generation of integration platforms rely on complex, legacy enterprise service buses that are out of step with the RESTful API approach dominating the cloud today," said Mark Geene, CEO of Cloud Elements. "Cloud Elements is the only integration platform that is 100% consumable through easy-to-use REStful APIs."
Founded in late 2012, Cloud Elements is one of the fastest growing companies in the cloud integration space with 22 employees, hundreds of customers and significant revenue growth. The company has been self-funded until now, focusing on lean methodologies to gain customer adoption and validate the company's innovative vision for the future of API integrations.
"Applications need to integrate easily with a multitude of cloud services to compete in today's marketplace," said Joe Zell, General Partner at Grotech Ventures. "Cloud Elements makes it simple for developers to integrate with the top platforms in a category for significantly less time and cost than custom development."
"We believe that Cloud Elements has an excellent vision and great momentum in the industry," says Jeff Hinck, General Partner at Icon Venture Partners. "Their leadership team has what it takes to scale the company quickly to keep up with their growing customer base."
About Cloud Elements
Cloud Elements is a cloud API integration and aggregation service that developers use to integrate, monitor and maintain leading cloud services at a fraction of the cost and time. With their unique 'one-to-many' approach, a developer can integrate a single API to connect all the leading services in categories such as Documents, CRM, Finance and more. Cloud Elements is headquartered in Denver, CO, but serves customers worldwide. More information can be found at www.cloud-elements.com.
Venture Capital Database