Sapphire Ventures Leads Latest Round for Fast-Growing Cloud Service Management Pioneer
BOSTON – May 3, 2016 – CloudHealth Technologies, the leader in cloud service management, today announced it has secured $20 million in Series C funding to build on its continued growth in the cloud service management sector. Leading the round is Sapphire Ventures, a new investor in CloudHealth Technologies. Sapphire Ventures will join existing investors Scale Venture Partners, .406 Ventures and Sigma Prime Ventures, which also took positions in the Series C round. As part of the round, Jai Das, managing director at Sapphire Ventures, will join CloudHealth’s board of directors.
“We are very impressed with CloudHealth’s leadership, strategy and ability to execute in this rapidly evolving market,” said Das. “As the cloud plays an increasingly integral role in enterprise business, companies that can wring the most value out of their cloud resources are going to come out on top. CloudHealth helps its customers do just that, and we look forward to applying our enterprise experience and network to help the company drive growth.”
This latest round of funding brings the total venture investment in CloudHealth Technologies to $40 million, counting the Class A and B investments the company raised from 2013 through 2015. CloudHealth Technologies will use the latest investment to expand initiatives across all departments, including sales, marketing, engineering, support and customer success. CloudHealth also plans to significantly increase support for all public clouds, private data centers and hybrid environments to meet the demands of its growing list of global enterprise customers.
“Sapphire Ventures has a proven track record of creating global category leaders, which is why we are proud they are leading this round,” said CloudHealth Technologies CEO and co-founder Dan Phillips. “Sapphire engaged with us immediately after we closed our B round and spent the following year learning about our business and culture. During that time, the Sapphire team provided tremendous value to us and aligned very well with our culture. It was an ideal process with a VC in terms of the value and commitment they demonstrated.”
About Sapphire Ventures
Sapphire Ventures is focused on helping today’s most innovative technology companies become global category-defining leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a powerful platform for business development and operational excellence to help them accelerate growth. With $1.4 billion under active management via direct growth investments and an early-stage fund investment strategy, Sapphire Ventures is uniquely positioned to elevate companies to the global stage. Find us in Palo Alto and London and at www.sapphireventures.com. Follow us @sapphirevc.
About CloudHealth Technologies
CloudHealth Technologies gives organizations a new, more efficient way to visualize, optimize, and automate their cloud environments. CloudHealth’s Cloud Service Management platform integrates with services across the datacenter and cloud, giving enterprises, startups, and service providers access to a centralized hub of robust data analytics. Using a policy-driven approach aligned to business processes, customers leverage CloudHealth to drive cost savings, improve agility, enhance security, and reduce complexity. With CloudHealth, customers are able to innovate faster without sacrificing governance or control.
The world’s cutting-edge companies rely on CloudHealth to meet their cloud management needs, including Amtrak, Dow Jones, Acquia, and Sumo Logic, among others. Based in Boston, MA, the company is backed by Scale Venture Partners, .406 Ventures and Sigma Prime Ventures. For more information, visit www.cloudhealthtech.com or follow us on Twitter @cloudhealthtech and LinkedIn.
Mike O’Connell or Lisa Sorrentino