StrataCloud Adds Additional Investors and Funds to Series A Financing
Cash infusion completes successful first operating year for StrataCloud, during which the company grew bookings 100+% quarter-over-quarter.
StrataCloud, a provider of IT infrastructure management solutions, has now raised a total of $3.4 million through its combined Series A and Series A-1 equity offerings. Original investors Hallett Capital and BLH Venture Partners have been joined by numerous individual and institutional investors including Atlanta-based Mosley Ventures and BIP Capital. The money will be used to expand StrataCloud’s leadership team and drive sales, marketing and engineering efforts. Since its founding in April 2014, StrataCloud has grown GAAP revenues 78% quarter-over-quarter and bookings by an average of 123%.
StrataCloud’s growth is being fueled by rising interest in converged infrastructure (CI) management and data center modernization strategies at enterprise companies. Sales of converged infrastructure platforms were up more than 30% in the fourth quarter of 2014 over the previous year, according to IDC. Converged infrastructure platforms combine compute, storage, and networking technologies into a single system, eliminating siloed resources and management. This combined hardware and software-based approach to running IT infrastructure promises to make IT more efficient and more agile for business application users.
StrataCloud’s flagship product, Virtualization Management Center, is used by midsize and large enterprises to improve virtual infrastructure performance management, capacity planning, right-sizing, root cause analysis and configuration compliance. StrataCloud’s enterprise customers include E*TRADE, Citigroup and IHG. Its newest product, focused on unified management for converged infrastructures, is currently in beta and due for general release this year.
Expansion of the Leadership Team
In conjunction with the capital raise and to guide StrataCloud’s product roadmap, the company has added Steve McDonald to its leadership team as vice president of product management. McDonald previously worked in senior business development and technical roles at managed service provider Softchoice. He brings extensive experience in IT strategy, leadership, engineering management and solutions marketing.
“We think 2015 is going to be a year of transformation for enterprise companies as they evaluate public and private cloud options and software-defined infrastructure,” says Brian Cohen, CEO of StrataCloud. “StrataCloud is developing a powerful platform to help them navigate this change, manage risk and optimize outcomes. We’re delighted with our progress to-date and that investors support our vision.”
Headquartered in Atlanta, Georgia, StrataCloud provides unified infrastructure management solutions for virtual, converged and cloud environments. Its data-driven architecture delivers a single, granular view of operations with the situational intelligence required for companies to optimize their IT infrastructures. By simplifying and automating infrastructure management, StrataCloud allows IT staffs to make intelligent, validated decisions that speed deployment, optimize performance, right-size capacity and increase productivity. StrataCloud solutions are used to manage some of the largest mission critical virtual environments in a variety of industries including hospitality, financial services, healthcare, service providers and more. Learn more at www.stratacloud.com.