VCs Throwing Gobs of Money at Cloud, Security, Mobile Startups
Tech startups focused in hot areas such as virtualization, mobility and security have pulled in tens of millions of dollars over the past week or so from venture capitalists looking to back the next big thing.
Tue, September 10, 2013
Network World — Tech startups focused in hot areas such as virtualization, mobility and security have pulled in tens of millions of dollars over the past week or so from venture capitalists looking to back the next big thing.
Not surprisingly, most of the companies have cloud-based offerings. IDC has said recently that worldwide spending on cloud A services will surpass $47 billion worldwide this year, with that number expected to more than double by 2017.
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Here's a quick rundown of some fresh rounds of funding received by networking startups:
*Security company CrowdStrike, which in June rolled out its first product, this week announced it has landed a $30 million B round of funding led by Accel Partners. A The company's first offering, dubbed Falcon, is aimed at protecting Windows and Mac users from advanced persistent threats via sensor-based technology. It plans to use its new funds, "to further drive innovation in big data analytics and security intelligence and support an aggressive go-to-market strategy in the next-generation threat protection space." The company has now raised a total of $56 million.
*Paydiant, a Wellesley, Mass., company that sells cloud-based technology designed to help retailers and banks handle mobile wallet payments, has raised an additional $15 million in venture funding from North Bridge Venture Partners, General Catalyst Partners, Stage 1 Ventures and two of Paydiant's customers. The company is now closing in on $35 million in total funding.
*Voxel, a company focused on making it easier for users to try out mobile apps via cloud and virtualization technology, received $1.6 million in seed funding from First Round Capital, Pinnacle Ventures and Sherpalo Ventures, not to mention Sanjay Jha, the ex-CEO of Motorola. "Voxel will revolutionize app discovery and distribution on mobile because it allows an app to perform with all the same features and capabilities of the native app without requiring it to be installed first," said David Zhao, co-founder and CEO of Voxel, in a statement. "Just as virtualization brought innovation and new security capabilities to the PC environment, we believe Voxel will offer a similar kind of transformation in mobile."
*Jelastic, a Palo Alto outfit with Ukrainian roots that provides a platform-as-a-service offering for moving Java apps to the cloud, has received unspecified funding from Maxfield Capital. The company previously has announced $2.5 million in funding.
* RiverMeadow Software, which operates out of San Jose and Westford, Mass., sells a software-as-a-service offering to help organizations migrate servers to public clouds. It has nailed down a $12 million B round of funding whose investors include Cisco, Violin Memory and others. "This latest funding round will allow us to continue to scale the company for future growth by expanding our engineering team and supporting our OEMs in meeting the growing market demands for cloud migration," said Mark Shirman, RiverMeadow CEO, in a statement.