CloudOne, an Indianapolis-based provider of an on-demand Software-as-a-Service and Virtual Private Cloud solutions for IBM® software tools, raised $2.8m in Series C financing.
The round was led by Bootstrap Venture Fund, with participation from existing investors.
The company intends to use the funds to expand its sales and marketing, customer service and account management efforts.
Started in 2009 and led by John McDonald, CEO, CloudOne provides companies like Cummins, Panasonic, Hilton, CVS/Caremark, US Army, Shell, Xerox, Deloitte, Express Scripts, Delphi Automotive, Harman/Kardon, McDonald’s and other organizations worldwide with a cloud-based IBM Software-as-a-Service to make their infrastructure work on-demand with no up-front capital, saving money on infrastructure, staffing and configuration costs.
In conjunction with the investment, the company has formed a new Board of Directors, which includes:
David Clark, venture partner at Elevate Ventures;
Ryan Diem, entrepreneur;
Parker Hinshaw, co-founder and former CEO of maxIT Healthcare;
Christopher Hughes, managing principal at HKS Capital Advisors; and
John McDonald, current chairman.
30/08/2011: CloudOne Raises $1.9M in Venture Capital Funding