Cloud Computing: OpenERP Becomes Odoo, Raises $10M in Funding

Grazed from TalkinCloud. Author: Chris Talbot.

Open source cloud computing is on the rise, and one vendor is hoping to take things to the next level. Odoo, formerly OpenERP, recently went through a change of name, and the company has also raised $10 million in funding to push its open source cloud marketing, but it also plans to soon release version 8 of its suite of cloud-based business services.

A media alert noted that the company has made "gentle waves" in the open source software world, but it is hoping to make a bigger splash this year. Odoo provides customers with a suite of open source business applications that are aimed at organizations with a lower level of technology experience and knowledge. Its goal is to help small and medium businesses (SMBs) with any of their online needs, from building their own websites to running ecommerce, accounting, customer relationship management (CRM), human resources, manufacturing and more...

Cloud Computing: PredictionIO Raises $2.5M For Open Source Machine Learning Server For Predictive Analytics

Grazed from PredictionIO. Author: Editorial Staff.

PredictionIO today announces the finalization of $2.5M in funding in a capital raise whose investors include Azure Capital QuestVP, CrunchFund, Stanford StartX-Fund, Kima Ventures, IronFire, Sood Venture and XG Ventures. The funding will be used to accelerate product development and marketing and sales and operations for the company’s open source machine learning server for predictive analytics.

PredictionIO aspires to fill the role in the predictive analytics space played by MySQL in the relational database space by delivering an open source platform that empowers data scientists to both leverage a pre-defined library of predictive algorithms as well as create new algorithms that they can either choose to contribute to the platform, or keep to themselves. Built using Scala, the PredictionIO platform supports JVM and Java-based code as well as backend Hadoop-based data. Typical use cases for PredictionIO’s technology include the production of personalized content and recommendation engines, as well as algorithms that predict the behavior of users and industries based on historical trends...

Cloud Migration Company, Racemi, Announces $10 Million Series C Funding

Grazed from GlobalNewsWire. Author: PR Announcement.

Racemi, a provider of automated server migration software, has closed a $10 million Series C round of venture financing. The round included new investors, led by Milestone Venture Partners, along with existing investors Harbert Venture Partners, and Paladin Capital Group.

The funds will be used to further scale Racemi sales, services and engineering to meet growing demand for its cloud migration software, which automates the process of migrating workloads to public, private and hybrid clouds. "The increasing adoption of cloud computing presents a tremendous opportunity for Racemi and this round will help accelerate our efforts to enter new markets and deliver the truly unique capabilities of our solution," said Lawrence Guillory, CEO, Racemi...

3 Hot Cloud Security Startups Snag Funding

Grazed from Dark Reading. Author: Ericka Chickowski.

Tens of millions of venture capital dollars recently have been flowing into some growing cloud security endeavors. The cloud security market is heating up within the venture capital community, with the past two months flush in funding for startups operating with a wide range of business maturity levels.

That activity has been punctuated over the last month by a hefty round of funding for three already proven cloud security vendors with established technology and a growing roster of clients: Skyhigh Networks, Netskope, and Okta. The increased investment is another signal of growing IT interest in not only reining in the security of cloud deployments, but also finding better ways to harness the power of cloud computing to deal with some of today's biggest security challenges. Here's the skinny on each deal...

CloudPhysics raises $15 million in Series C funding

Grazed from Cloud Computing Info. Author: Massimo Ferrari.

CloudPhysics is a provider of a SaaS performance and capacity analytics solution, the first in its segment to leverage the informations collected for its customer datacenters to improve the intelligence and effectiveness of the product itself. The company, founded in November 2011 from John Blumenthal and Irfan Ahmad, both former VMware employees, but publicly presented only in July 2012, announced today a new Series C funding of $15M that comes on top of a $10M Series B funding achieved in August 2013 and led by Kleiner Perkins Caufield and of a previous $2.5M funding from angel investors and the Mayfield Fund, announced in August 2012, for a total funding of $27.5M in 3 years.

This new funding, that sees Jafco Ventures to support Kleiner Perkins Caufield and the Mayfield Fund in this new round, will be invested to furtherly improve the storage monitoring side of the product, launched today as a new Storage Analytics, and to develop the custom reporting area where CloudPhysics is already quite strong with the ability to create infographics and scorecards with a more “high level” aim...

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Cloud Computing: Google Capital backs cloud startup Freshdesk

Grazed from EconomicTimes.  Author: Editorial Staff.

Google Capital is investing in Chennai-based customer support software provider Freshdesk, along with existing investors Tiger Global and Accel Partners. Tiger Global led the $31 million (about Rs 184 crore) funding round.

This is the firm's fourth round of funding. It previously raised $13 million (about Rs 77 crore) from Tiger and Accel. Girish Mathrubootham, cofounder of Freshdesk, said Google Capital's investment is a validation of the company's business.   "They have a great brand name, have excellent network and have huge reach into small and medium businesses...

Blackstone Makes Strategic Investment in Cloud Theory

Grazed from BusinessWire. Author: PR Announcement.

Blackstone (NYSE:BX) today announced that it has made a strategic investment in Cloud Theory, a technology consulting firm specializing in cloud-based solutions, to expand its product offering with customized Salesforce software for alternative asset managers. Cloud Theory's FundEngine solution was designed and built in partnership with the Blackstone Innovations team, and offers a turn-key, client-facing customer relationship management ("CRM") system for alternative asset management firms that is built on top of the Salesforce platform, an industry leader in cloud computing and CRM software.

FundEngine customizes the general purpose Salesforce platform and tailors it for alternative asset management business development, fundraising and client relations, as well as fund management, due diligence and research management. FundEngine also integrates with leading industry vendors, back office systems and fund administrators...

Cloud network optimizer Arista Networks sets terms for $200 million IPO

Grazed from PRWeb. Author: PR Announcement.

Arista Networks, which sells 10/40/100 Gigabit Ethernet switches and software for cloud-computing data centers, announced terms for its IPO on Tuesday. The Santa Clara, CA-based company plans to raise $200 million by offering 5.3 million shares at a price range of $36 to $40. At the midpoint of the proposed range, it would command a fully diluted market value of $2.8 billion.

Arista Networks, which was founded in 2004 and booked $417 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol ANET. The company initially filed confidentially on January 31, 2014. Morgan Stanley, Citi, BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price next week.

ClearDATA Secures Funding from Norwest Venture Partners for Healthcare Cloud Computing

Grazed from ClearData.  Author: PR Announcement.

ClearDATA Networks, Inc., the leading healthcare cloud computing platform and service provider, today announced it has secured funding from Norwest Venture Partners (NVP) and several industry angel investors. The company has demonstrated strong revenue growth through its existing customer base which ranges from single provider practices to small and large hospitals throughout the U.S...

Over the past three years, ClearDATA has entered into several strategic partnerships and currently provides cloud hosting and information security services to over 10,000 healthcare practitioners. The funding will be used to grow the companys products and presence in order to meet the increasing demand for its secure, HIPAA-compliant cloud computing services in the healthcare industry...

Cloud Computing: Aereo’s court case chills startup cash

Grazed from TheBostonHerald.  Author: Jordan Graham.

Aereo’s landmark Internet broadcast Supreme Court case is casting a pall over venture funding for the cloud computing industry, experts are warning.  “The mere existence of this will make it much harder to raise funding, because the risks have gone up,” said Michael Davies, chairman and founder of Endeavor Partners, a Cambridge consulting firm for technology companies.

Last week, the Supreme Court heard the case in which Aereo defends its right to grab television broadcast signals and stream TV through the cloud to users for a small fee of about $8 a month — and without paying retransmission fees. Aereo, run by founder and CEO Chet Kanojia, contends its antennas are no different than old-fashioned rabbit ears and its service constitutes what is legally known as a “private performance.” Broadcasters contend the business is offering a “public performance” and the company is violating copyright...