Cloud Computing: BitTitan Raises $15 million in Funding to Accelerate Rapid Growth

Grazed from MSPMentor. Author: T.C. Doyle.

Cloud services innovator BitTitan is taking a big step forward this week with the acceptance of a $15 million in Series A funding. The investment from TVC Capital and Tao Capital Partners marks the first time that BitTitan, which was formed in a basement nine years ago, has accepted seed money form outside sources.

The company plans on using the investment to fuel expansion overseas and help accelerate the development of its cloud services enablement platform, MSPComplete. “Our founders have literally thrown would-be investors out of our lobby previously, but decided now is the right time to accept investment that will help propel our company forward,” said Rocco Seyboth, vice president of product and marketing at BitTitan...

Seyboth said the company has been growing at a sustained rate of between 50-100 percent in recent years and needs the money to keep up with growth. The size of the company is literally doubling every two years and will soon reach 300 employees...

Read more from the source @ http://mspmentor.net/cloud-computing/bittitan-raises-15-million-funding-accelerate-rapid-growth