Daily News: May 13, 2014

OpenStack Vendor Metacloud Closes $15MM Series B

Metacloud, a deployer of OpenStack as a service for large companies, announced it has closed a $15 million Series B round of funding featuring new investors Pelion Venture Partners, Silicon Valley Bank and UMC Capital, as well as prior investors AME Cloud Ventures, Canaan Partners, and Storm Ventures.

“We see this round as further validation of both our business model and our technological capabilities,” said Steve Curry, co-founder and president at Metacloud. “We have filled a significant market gap by offering solutions that combine the convenience of public cloud with the security, predictability, and economic advantages of private cloud. And the market is responding.”

The company will use the Series B funds to capitalize on its market momentum by expanding its talented team, which has already more than doubled over the past year, and to accelerate the evolution of its product platform.

“With this round, Metacloud establishes itself as a company that has arrived,” said Jerry Yang, of AME Cloud Ventures. “They are in a large and competitive market, but they have all the ingredients to be big winners and we are excited at the opportunity to reinvest in their future.”

“With Metacloud, we see a company that has the potential to transform how global enterprises are working with OpenStack,” said Blake Modersitzki of Pelion Ventures. “The customer base, product maturity, and team are all exceptional.”