After launching version 2.0 of its platform last summer, cloud company ElasticBox announced that it has raised $9 million in a series A funding round, led by Nexus Venture Partners and Intel Capital. The company previously received with $3.4 million in seed funding from Andreesen Horowitz and Sierra Ventures.
“The cloud has fundamentally improved how people access and use infrastructure. But developing cloud based applications is still a lengthy, expensive and broken process that is stuck in the dark ages, like way back in the days of bare metal,” said Ravi Srivastav, CEO and co-founder of ElasticBox. “ElasticBox empowers the developer with preconfigured Boxes that they can mix and match to create applications — similar to the way a DJ blends beats and samples to create new music. It brings Dr. Dre-like creativity to enterprise application development.”
ElasticBox introduced a modular way to develop applications in the cloud through a new approach called Boxes – using encapsulated, fully configured components of your application architecture that can be combined to create and run applications in the cloud. Enterprises create hundreds or thousands of internal applications to support business processes and create competitive advantage. ElasticBox empowers these enterprises to build better applications faster, which then helps them innovate more quickly. Netflix is one such company.
“ElasticBox has provided us with the technology that we had been looking for, but had never found a great solution,” said Mike Kail, VP of IT Operations at Netflix. “With ElasticBox we are able to both create custom Boxes as well as leverage their preconfigured Boxes to deploy our internal applications, which allows us to focus on innovation instead of orchestration.”
“ElasticBox’s pioneering work removes the complexity and cost associated with developing, deploying and managing apps in the cloud and truly delivers the promise of cloud elasticity to enterprises,” said Arvind Sodhani, president of Intel Capital and executive vice president of Intel Corp. “We look forward to helping Ravi and team accelerate their growth with enterprises around the world.”