RightScale Raises $25 Million in New FundsSeptember 22, 2010
RightScale, a Santa Barbara, Calif.-based cloud management software maker, has raised $25 million in new funds from Tenaya Capital, joined by DAG Ventures and other current investors: Benchmark Capital, Index Ventures and Presidio Ventures. This is RightScale’s third round of funding, bringing the total funds raised to $42.5 million.
The company was founded in 2006, and since then, has been trying to establish a toehold in the cloud management software business. The company has seen a spike in demand for its products and recently claimed that it had seen a 1000 percent increase in cloud spending, which in turn, was benefiting the company. The new funds will be used to expand their operations to Europe and Asia.