CloudSwitch Raises $8 Million
July 1st, 2009 By: Rich Miller
Massachusetts startup CloudSwitch, Inc. has raised an additional $8 million to fund its development of a “software appliance” to allow enteprrises to deploy cloud applications. Led by Commonwealth Capital Ventures, the $8 million series B round includes initial investors Matrix Partners and Atlas Venture and brings the company’s total funding to more than $15 million.
CloudSwitch also said it has hired John McEleney as its Chief Executive Officer and President. The Burlington, Mass. company has 18 employees and a product in alpha testing, with a beta phase scheduled for later this year. Company executives are saying little about its product beyond the fact that it is software-based and will provide an “enterprise gateway to the cloud.”
McEleney previously was CEO of SolidWorks Corporation, a 3D modeling company with $350 million in revenues. “Cloud computing is a major platform shift and the CloudSwitch approach is unique in addressing the needs of enterprise applications and environments,” said McEleney. “The level of interest we’re seeing from prospects, partners and investors is a reflection of the strength of our value proposition and the exponential growth of the cloud market.”
The CloudSwitch management team also includes executives with experience at BMC, EMC, Netezza, RSA and Sun Microsystems.
“Having worked closely with John McEleney for many years, we are excited to back him and the CloudSwitch team,” said Elliot Katzman, Commonwealth Capital Ventures. “We believe in partnering with entrepreneurs at the early stages of innovation, and saw the opportunity to accelerate the series B financing as a way to accelerate the growth of the company in this highly dynamic market.”
[...] CloudSwitch Raises $8 Million « Data Center Knowledge – Two rounds and $15 Million and still no product… [...]