Category Archives: Venture Capital

BitTitan Raises $15M in Series A Funding For Its Cloud Enablement Platform For MSPs

On June 9, cloud services enablement provider BitTitan finalized $15M in Series A funding led by TVC Capital. BitTitan’s MSPComplete platform helps companies sell cloud services, onboard cloud workloads and deliver enterprise-grade customer support. For example, BitTitan helps Managed Service Providers (MSPs) sell Office 365, Azure and related cloud services. In addition, MSPs can use BitTitan’s MigrationWiz to transfer workloads to the cloud and subsequently accelerate the transition of enterprises from on-premise to cloud-based deployments. BitTitan also facilitates the delivery of production-grade support for cloud-based workloads and applications and thereby gives MSPs a comprehensive suite of tools with which to build cloud revenue. BitTitan supports a range of cloud platforms that includes Microsoft Azure, Amazon Web Services, Google Cloud Platform and Dropbox. The Series A funding marks the first formal capital raise for BitTitan since its founding in 2007. Tao Capital Partners also participated in the capital raise which will be used to enhance BitTitan’s MSPComplete platform, facilitate its expansion into new geographies and consolidate its market position as a leading cloud services enablement vendor for MSPs. Given that the company has been bootstrapped since its inception, expect BitTitan to gain even more traction within the cloud MSP space with $15M in the bank, particularly as the global market for cloud services continues to experience aggressive and significant growth.

Midokura Raises $20.4M In Series B Funding For Its Network Virtualization Platform For IaaS Infrastructures

This week, Midokura announced $20.4M in Series B funding for its network virtualization technology platform, Midokura Enterprise MidoNet. Midokura Enterprise MidoNet delivers an enterprise-grade, virtualized networking solution for IaaS infrastructures including, but not limited to OpenStack. Midokura’s virtualized networking solution claims advantages in comparison to the Open vSwtich (OVS) plugin with respect to scalability, performance, security and monitoring functionality. Midokura Enterprise MidoNet 5.0, for example, features enhanced analytics into network flows through physical and virtual hosts, thereby empowering customers to swiftly identify and remediate issues within network infrastructures. Midokura’s Series B funding round investors included Simplex Inc. as well as existing investors Innovation Network Corporation of Japan and a member of Midokura’s board of directors, Allen Miner. The funding raise constitutes emphatic affirmation of Midokura’s business model of delivering enterprise-grade support and services around its open sourced MidoNet platform and a current customer base that includes Dell, Overstock.com and Puppet.

Qumulo Raises $32.5M In Series C Funding For Its Data Aware Scale Out Storage Platform

On June 3, Qumulo announced the finalization of $32.5M in Series C funding for its scale-out, “data aware” NAS solution. The Series C funding raise builds upon the company’s $40M in Series B funding and brings the total funding raised by the Seattle-based startup to $100M. Series C investors included existing investors Kleiner Perkins Caufield & Byers (KPCB), Madrona Venture Group, Highland Capital Partners, and Valhalla Partners as well as new investors Allen & Company, Top Tier Capital Partners and Tyche Partners. The company’s Qumulo Core product integrates real-time analytics directly into its storage platform, thereby giving customers an unprecedented degree of granular analytics into storage trends for massive amounts of data. The latest capital raise validates Qumulo’s leadership in the space marked by the convergence of scale-out storage and real-time, data driven analytics. Moreover, Friday’s capital raise points to the intensity of the need within enterprise storage to harness scale-out storage solutions that facilitate intelligent automation of scale-out storage in the wake of the continuous ingestion of massive volumes of incoming data.

DigitalOcean Raises $130M In Credit Facility Financing

This week, DigitalOcean announced the finalization of $130M in credit facility funding for its IaaS platform that targets developers and startups. The company will use the financing to fund its explosive growth, global expansion and product development. KeyBanc Capital Markets Inc. led the financing in collaboration with Barclays Bank PLC, Pacific Western Bank, East West Bank, Opus Bank, Webster Bank and HSBC Bank USA. The $130M in credit facility adds to DigitalOcean’s $83M in Series B funding from June 2015 and positions it strongly to scale in response to customer demand as well design and deploy new product innovations. The huge advantage of credit facility funding is that DigitalOcean need not give away equity as a result of the funding raise. The $130M in financing illustrates DigitalOcean’s attractiveness to developers and correspondingly illustrates the multi-dimensionality of the market for IaaS services, which clearly contains a layer different from the battle for enterprise market share that features the likes of Amazon Web Services, Microsoft, Google Cloud Platform and Rackspace.

Datera Emerges From Stealth With Cloud Storage Solution For Private Clouds And Service Providers

Mountain View, CA-based Datera emerged from stealth today with the launch of the Datera Elastic Data Fabric platform, a scale-out storage software solution that delivers block storage provisioning and management capability for commodity hardware. Datera Elastic Data Fabric brings the operational agility and economics of public-cloud based block storage solutions such as the Amazon Web Services Elastic Block Storage platform to enterprises and service providers by empowering them to use code to deploy and manage storage solutions. Customers use the Data Elastic Data Fabric to create storage infrastructures for private clouds, or in the case of service providers, large-scale storage infrastructures. As told to Cloud Computing Today in a phone interview with Datera CEO Marc Fleischmann, the platform boasts self-optimizing and infrastructure aware functionality that delivers an intelligent data fabric capable of responding to the unique requirements of individual applications as illustrated below:

The graphic illustrates how the convergence of self-optimizing functionality and infrastructure awareness facilitate intelligent automation that allows for the creation of a storage platform capable of responding to dramatic variations in application performance and the attendant volume, velocity and variety of incoming data. Zachary Smith, CEO of Packet, a cloud infrastructure company, elaborated on the uniqueness of Datera as follows:

Datera has enabled Packet to deliver a high performance, consistent and profitable elastic block storage service to our customers. What makes Datera so unique is its software DNA. With Datera, we can use a true API-driven storage platform that can keep pace with our dynamic workload requirements and demanding automation needs. Datera Elastic Data Fabric self-describes and self-optimizes so we can easily and economically scale our storage service.

Here, Smith remarks on Datera’s ability to deliver a software-based, high performance, low latency storage solution that reflexively optimizes itself in ways that can embrace the company’s “dynamic workload requirements and demanding automation needs.” Datera’s ability to bring the economics, agility and operational efficiency of infrastructure as code-based storage to the enterprise means that enterprises now have access to a storage infrastructure that maintains parity with the revolution in contemporary IT specific to the cloud revolution and the DevOps movement. The company’s software transforms commodity hardware into an API-driven, scale-out storage infrastructure for block storage that can be accessed either via an appliance or software-only modality. Today, the company also announced $40M in funding from Khosla Ventures, Samsung Ventures and Andy Bechtolsheim and Pradeep Sindhu. Compatible with OpenStack, CloudStack and VMware vSphere, the platform aims to bring block storage into the cloud era in conjunction with an impressive array of analytic and intelligent automation functionalities.

Influitive Acquires Triggerfox To Build On Recent Momentum Regarding its AdvocateHub B2B Marketing Platform

On Tuesday, advocate marketing vendor Influitive announced the acquisition of Triggerfox, a mobile relationship management startup. Triggerfox delivers CRM functionality at the level of individual users, allowing users to receive notifications about birthdays, job changes and life events with respect to the people in their network. Influitive’s acquisition of Triggerfox promises to augment its B2B advocate marketing platform while expanding its team and expertise in mobile applications. Influitive delivers a platform that allows companies to leverage relationships with their own customers to further promote their products and build their brand. The Influitive AdvocateHub allows customers to seek referrals and recommendations from customers in exchange for points or awards that variously reward customers for promoting their products. The acquisition of Triggerfox by Influitive represents its second acquisition in less than a month, building upon its purchase of Ironark Software in early March. The purchase of Triggerfox also comes soon after news of an additional $8.2M in Series B funding that brings its total Series B funding to $38M and constitutes continued validation of the meteoric growth and success of Influitive’s innovative AdvocateHub platform.

JFrog Raises $50M In Funding For Universal Artifact Repository Technologies

JFrog today announces the finalization of $50M in investment capital from new investors Scale Venture Partners, Sapphire Ventures, Battery Ventures, Vintage Investment Partners and Qumra Capital in addition to existing investors. The funding raise validates JFrog’s business model as a leader in the artifact repository, distribution and management space. Unlike other artifact repositories that exclusively support formats such as Docker, NPM, Maven and Vagrant, JFrog embraces binary artifacts of all kinds, thereby allowing organizations to create hybrid artifact repositories featuring a multitude of artifacts from a variety of sources. As such, JFrog’s universal artifact repository gives developers the ability to create metadata for binary objects in conjunction with a system of record for polyglot application development. The company’s three pronged product line features JFrog Artifactory, JFrog Bintray and JFrog Mission Control. While JFrog Artifactory constitutes the industry’s only universal artifact repository, JFrog Bintray takes responsibility for the distribution of software and binary artifacts to end users. Meanwhile, JFrog Mission Control empowers customers to manage multiple instances of JFrog Artifactory spanning different servers. JFrog CEO Shlomi Ben Haim remarked on the innovation of JFrog for DevOps and contemporary development practices as follows:

The software world is tired of domain dictators and demands a universal powerful solution that supports all technologies and software packages. DevOps and developer teams deserve more – they demand a multi-package, highly available and secured end-to-end solution. JFrog Artifactory and JFrog Bintray are not just a Docker registry, or a npm or Maven repository; it’s how the world’s biggest organizations choose to host, manage and distribute their software.

Here, Shlomi Ben Haim underscore’s JFrog’s ability to store, distribute and manage binary artifacts from a heterogeneous assemblage of sources and technologies. As a one stop resource for artifact storage, distribution and management, JFrog now boasts over 1500 paying customers including Google, Amazon, VMware, EMC, Cisco, Oracle and Netflix. The $50M in funding will be used to scale its products and services to match the demands of JFrog’s customers by expanding its product and sales operations teams and positioning the company to more expeditiously realize its mission by means of strategic acquisitions. JFrog Bintray specializes in the automation of the distribution of binary artifacts and software packages to repositories all over the world, and now claims over 700,000 downloads a month. With an extra $50M in its coffers, expect JFrog to continue leap frogging the rest of the competition with embellishments to its product suite and a visionary, disruptive approach to DevOps that positions it squarely in competition with Docker, even as it embraces artifacts from Docker’s Trusted Registry. JFrog’s Artifactory platform is available on premise or via a cloud-based deployment. Today’s funding raise adds to previous funding of $12M, bringing the total funding raised by JFrog to approximately $62M.