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Metacloud Announces $10 Million ‘Series A’ Funding to Extend Private Cloud Offerings

Metacloud, Inc., which delivers the industry’s first on-premise, private cloud as a service, today announced it has raised $10 million in a Series A funding round. Canaan Partners led the round and was joined by existing investors Storm Ventures and AME Cloud Ventures.

The financing will be used to accelerate the company’s growth, pace of innovation and global expansion to meet the rapid demand for Metacloud’s Carbon|OS OpenStack-based private cloud solution.

“In addition to a transformative delivery model, Metacloud defines the gold standard of what we look for in a founding team,” said General Partner Maha Ibrahim, Canaan Partners. “With large scale infrastructure engineering experience gained during their years at Ticketmaster and Yahoo!, Sean Lynch and Steve Curry have the pedigree to deliver on Metacloud’s promise of bringing the ease of the public cloud to the private cloud environment.”

As the first company to offer a SaaS-based private cloud solution that leverages clients’ existing hardware investment, Metacloud combines the simplicity of the public cloud with the performance, security and cost advantages of the private cloud. Delivered as a service, Metacloud’s Carbon|OS empowers businesses to scale dynamic applications quickly by combining the power of OpenStack with critical enhancements for the enterprise.

“Our focus is entirely on delivering private clouds to the enterprise, and we're laser-focused on doing this better than anyone else,” said Metacloud Founder and President Steve Curry. “We are cloud experts, with DNA in large-scale infrastructure running at extreme efficiency, and that really resonates with our customers. What's important to them is continuous innovation, enterprise-readiness, and maximizing the return on their previous investments. The message ‘Do more with what you already have,’ is really appealing to most CIOs, and that's what we offer. They're leveraging Carbon|OS to drive efficiency on their existing hardware.”

"Cloud is a promising technology, but enterprises that are serious about adopting it have surprisingly few options. A number of cloud ventures are selling variations of the same solution. Metacloud, however, is coming at the problem in an entirely unique way, and we think it’s going to resonate with CIOs seeking the simplicity of public cloud and the security advantages of private cloud,” said Yahoo! Inc. co-founder Jerry Yang, who now heads AME Cloud Ventures.

“We had choices when we decided to raise a Series A round, and are delighted to welcome Maha Ibrahim from Canaan Partners to our board. She brings a strong track record of successful investments in disruptive cloud technologies and a wealth of expertise to our growing company,” said Sean Lynch, CEO of Metacloud. “Our investors clearly believe in the fundamental economics of Metacloud’s business model, and this funding will allow us to both meet existing customer demand and scale for future growth.”

Metacloud’s Carbon|OS includes 24x7 proactive support from Metacloud’s in-house cloud team to ensure maximum performance at all times. The team monitors, troubleshoots, upgrades, handles capacity planning, and performs bug fixes, enabling extraordinary service levels and helping Metacloud customers to extract extraordinary value from their private cloud investments.

Published Wednesday, June 26, 2013 6:24 PM by David Marshall
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