Cloud Technology Partners Reports Closing of $5 Million Series B Funding Round
Aug 23, 2013 (Close-Up Media via COMTEX) --
Cloud Technology Partners, a provider of cloud solutions for enterprises, announced the closing of a $5 million Series B round.
According to a release, the funding, led by Oak Investment Partners, will be used to support the firm's rapid growth and to expand its professional services and software offerings.
"Oak is an extremely sophisticated investor so we are gratified by their confidence in us," said Chris Greendale, Founder and CEO of Cloud Technology Partners. "They see a company that has beyond first class people, an unparalleled cloud knowledge base, a Fortune 500 client list to die for, and a great reputation all of this in an early market." He continued, "We are particularly pleased that Ed Glassmeyer of Oak Investment Partners, has agreed to join our Board of Advisors. Ed adds to an already very accomplished group of individuals including Bill Helman of Greylock Partners and Chris Pasko of The Blackstone Group."
Cloud Technology Partners reported that it has completed over 50 engagements designing and building cloud computing systems for its enterprise clients both in the U.S. and internationally.
"Chris Greendale is doing it again. He sees an important paradigm shift in Information Technology, and is guiding enterprise clients through the change. Cloud Technology Partners is to cloud adoption what Cambridge Technology Partners was for client-server adoption, both led by Chris," said Ed Glassmeyer, Managing Partner, Oak Investment Partners.
Further, in addition to Oak, the Series B round included funding from a new strategic investor as well as additional funds from existing investors State Street Bank and select angels.
((Comments on this story may be sent to email@example.com))
[ Back To Technology News's Homepage ]