The leading cloud service management company CloudHealth Technologies has announced the completion of its series D funding round which raised a further $46 million for the Boston-based company. The funds will be used to scale up its international operations, which will see its workforce almost double in 2017.
The latest funding round was led by a new investor – the Silicon Valley based venture capital firm Kleiner Perkins. Kleiner Perkins has a keen eye for the most attractive investment prospects, and has previously backed industry giants such as Twitter, Google, Slack, and Amazon. Meritech Capital Partners also participated along with past CloudHealth Technologies investors Sapphire Ventures, 406 Ventures, and Scale Venture Partners.
CloudHealth Technologies has been enjoying tremendous growth across all areas of the business, although further investment was required to continue its impressive growth trajectory.
“We’re thrilled to be backed by venture capital firms with such a strong reputation for launching many of today’s biggest technology stars,” said Dan Phillips, CEO and co-founder of CloudHealth Technologies. “Their expertise and proven track record will ensure that we continue to dominate our market, make strategic hires and roll out customer-driven enhancements that have a serious impact on our customers’ bottom lines and gross margins.”
Businesses have realized the opportunities to be gained from the usage of cloud infrastructure, yet while the adoption of hybrid public cloud environments is growing at a staggering rate, many businesses lack the tools and skills to ensure they get the very most out of their cloud investments.
CloudHealth Technologies realized the benefit in providing businesses with solutions to help them navigate and optimize cloud infrastructure and entered the market at an ideal time. The company has executed its vision perfectly and is now the leading provider of cloud management services.
Through integrated reporting, recommendations, and active policy management, CloudHealth Technologies helps businesses avoid ‘cloud chaos’ – where they have little insight into cloud usage and where their often-extensive cloud budgets are going each month. The cloud management platform offers businesses recommendations based on cost, usage, security and performance and provides measurable business value, lowering costs and increasing gross margin. There are few services that provide businesses with such immediate and immense value.
The latest round of investments brings the total venture investment to $86 million, including its Class A (2013), Class B (2015) and Class C (2016) funding rounds.