Atlanta-based StrataCloud recently announced an additional $2.6 million in equity funding to bring the total Series A capital raise to $3.4 million. The company, which offers infrastructure management solutions to streamline IT for companies, was founded in April 2014 and previously raised $2 million of seed capital last year. Two of the initial investors, BLH Venture Partners and Hallet Capital, also participated in this round. They were joined by BIP Capital and Mosley Ventures. According to the company’s news release, the money will be used to grow the leadership team and spur efforts in sales, marketing and engineering.
This funding round positions StrataCloud for growth along with its entire sector.
“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, ” said CEO Brian Cohen. “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.”
According to company sources, it has been experiencing 78 percent growth quarter-over-quarter since its founding.
StrataCloud competes in the growing integrated infrastructure market against the likes of VCE and Cisco/NetApp. According to industry group, IDC, sales in this market grew 31.9 percent year on year in the fourth quarter of 2014 bringing the total to $1.8 billion. But there are currently no dominant players in the market.
Customers of StrataCloud Virtualization Management Center look to automate and simplify IT processes to achieve better decision-making, faster deployments, more optimal performance and productivity. The company’s enterprise clients include E*TRADE, Citigroup and IHG. Additionally, StrataCloud has a new product in beta that is slated for general release later this year.
As its first step toward expanding the leadership team, StrataCloud announced the addition of Steve McDonald as vice president of product management. McDonald was previously at Softchoice, a managed service provider, and brings vast experience in the areas of IT strategy, leadership, engineering management, and solutions marketing to the table.
StrateCloud expects revenues of $3.5 million to $4 million in 2015.