Rockville’s CloudBolt Software has nabbed a whopping $35 million.
The cloud management startup’s Series B round included a combination of equity and venture debt. New York venture capital and private equity firm Insight Partners led the equity portion and both Palo Alto, California-based Hercules Capital Inc. (NYSE: HTGC) and San Jose, California-based Bridge Bank issued the debt, according to the company.
CloudBolt said the investment will help secure its position in the hybrid cloud market. With the latest round, it has raised $61.50 million to date, per PitchBook.
We have reached out to the company for additional comment and will update this post as we hear back.
“As enterprises accelerate their investments in hybrid cloud, they face growing challenges around shadow IT, lack of visibility, and complex integrations across their IT and DevOps toolsets,” CloudBolt CEO Jeff Kukowski said in a statement. “These factors require a bold, new vision for cloud management where enterprises must continuously automate, secure, and optimize their cloud workloads while using their tools of choice.
“We are thrilled to have the support of Insight Partners, Hercules, and Bridge Bank as we build out our technology vision, accelerate our international expansion, and invest in new partnerships to support enterprises anywhere on their hybrid cloud, multitool journey,” said Kukowski, who was appointed to the top slot in April after serving as CEO of California cybersecurity company SecureAuth Corp.
The raise comes on the heels of a pivotal year in which the business doubled its customer base and ballooned its staff. That was fueled by an agreement to take over Australia cloud management platform Kumolus and the acquisition of Georgia-based SovLabs, both this year. Deal terms were not disclosed in either case and a spokesperson has not returned a request transaction details.
The company is also earning recognition for its work, ranking No. 780 on the Inc. 5000 list and sitting at No. 242 on Deloitte’s Technology Fast 500 ranking.
CloudBolt hit the scene in 2012 at a time when the market for cloud management tools was crowded in both federal and commercial spaces. But after getting its foot in the door, the business has established itself as an industry leader, for customers across industries including government, health care, financial services, retail and manufacturing, among others.
