CloudHealth Technologies announced Tuesday it has secured a $3.2 million extension of its Series A financing, bringing the cloud management platform's total amount raised to $7.7 million.
The company raised $4.5 million in March 2013, with the support of .406 Ventures and Sigma Prime Ventures. Both investors have chipped in again, allowing the Boston-based CloudHealth team to attract additional hires on the sales and engineering side, all while enhancing the platform and expanding its customer base.
Sigma Prime Ventures Managing Partner Bob Davoli explained his reasoning for providing follow-on funding to the SaaS platform in a statement, saying:
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. 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.
Dan Phillips (above), founder of UMass Boston's Entrepreneurship Center, launched CloudHealth after spotting "massive opportunities for companies looking to streamline their processes." With the company's integrated platform, customers are provided a comprehensive view of their entire cloud environment, allowing them to more easily align operations with business objectives.
More than 50 of Amazon's largest customers are reportedly using the cloud management platform, including Acquia, Cloudera, Sumo Logic, Amtrak and Ziff Davis. The influx of initial interest has helped the company experience 40 percent quarter-over-quarter growth.
“We’ve made incredible progress with the CloudHealth platform," said Phillips in a statement. "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.”
Up next, after the hiring spree, CloudHealth is expected to "focus on a B round next year."
Image via CloudHealth Technologies
