CloudShare, a San Mateo, CA-based company that offers a solution to develop, test, demo and train on business applications in the cloud, has closed a $10m third venture capital funding round.
The round was led by Globespan Capital Partners, with participation from existing investors Sequoia Capital, Charles River Ventures and Gemini Israel Funds.
This brings the total amount raised by the company to date to $26m.
CloudShare plans to use the capital to expand its sales initiatives and its product line.
Founded in 2005 and led by CEO Guri Stark, the company has developed a cloud solution that allows individual software developers, consultants, business analysts and IT professionals in small teams or in enterprises of all sizes to build, manage, and share enterprise business applications without investment in hardware or supporting IT infrastructure.
CloudShare has a customer base of over 50,000 users worldwide including Cisco, SAP, HP, Dell, McAfee and Adobe.
In conjunction with the funding, Dave Fachetti, a Managing Director at Globespan Capital Partners, has joined the company’s Board of Directors.
CloudShare has a subsidiary in Tel Aviv, Israel.