Startups rush to the cloud
September 6, 2012
Grazed from NetworkWorld. Author: Brandon Butler.
Having a cloud computing startup has at some times felt like being part of the California Gold Rush, says Nand Mulchandani, CEO and co-founder of ScaleXtreme, a 2-year-old company focused on easing management of multi-cloud environments.
Scads of entrepreneurs over the past few years have launched companies in an effort to grab a share of the riches they’ve seen companies such as Amazon Web Services, Rackspace and VMware reap. And why not? Forrester last year projected that the cloud computing industry will grow six-fold from $40 billion in 2010 to $241 billion by 2020…
Frank Artale, a venture capitalist at Ignition Partners, says the cloud represents the next major shift in enterprise computing, and that VCs are aggressively investing in cloud startups. "Initially this move [to the cloud] will create more complexity," he says. "Companies that can enable the use of cloud, virtual networking and storage will get lots of attention." Artale is among investors at Mulchandani’s ScaleXtreme, which has raised $13.5 million…
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