Investors opening up wallets to new cloud ventures
August 28, 2013
Grazed from FierceEnterpriseCommunications. Author: David Weldon.
Venture capitalists are apparently feeling all warm and fuzzy over the cloud these days, with large sums being invested in new cloud computing ventures. Two recent announcements demonstrating this trend caught our attention: one involving Birst, a San Francisco company that offers cloud-based business intelligence services; the second involving CloudPhysics in Mountain View, Calif., which is launching a new app store to help IT managers with problems in a VMware virtualization environment.
According to a report in Network World, Birst has received $38 million in venture capital investments from existing backer Sequoia Capital and newcomer Northgate Capital. With this latest round of funding, Birst has received $84 million to date. Last year the company received $26 in backer funding, also led by Sequoia…
As noted in the report, Birst plans to use the latest round of funding to expand internationally, grow sales and marketing and improve its products. The company was founded in 2004 by two veterans of Siebel Systems…
Read more from the source @ http://www.fierceenterprisecommunications.com/story/investors-opening-wallets-new-cloud-ventures/2013-08-28