Funding will fuel growth and accelerate product development, support for new cloud technologies, and go-to-market operations to meet increasing customer demand.
McLean, Virginia (April 15, 2014) – DivvyCloud, enabling today’s hybrid and multi-cloud strategies with its Cloud Management Platform, announced today it has closed on $900,000 first round of funding. Investors include CIT GAP Funds, Core Capital Partners, Acceleprise and New Dominion Angels, among other investors. DivvyCloud will use the funds to continue to expand the product feature set, private and public cloud support, and meet increasing customer demand.
DivvyCloud’s platform allows users to view and manage all public/private cloud instances – regardless of the underlying cloud technology or service – through a single pane of glass. “We see DivvyCloud adding significant value by providing clarity to what can often be a muddled cloud infrastructure,” said CIT GAP’s Dan Henderson. “We see potential for this solution to benefit a variety of customers ranging from cloud service providers to small online businesses to large enterprises as they pursue secure, agile and cost-efficient cloud strategies.”
DivvyCloud Co-Founder and CEO Brian Johnson said he and his team are pursuing a product vision based on their experiences managing hybrid and multi-cloud environments at Electronic Arts, the $3.8B leader in online gaming. “We designed and built a product to handle the complexity we faced in the day-to-day management of over 5,000 servers in five countries to support millions of paying subscribers. DivvyCloud simplifies the process of managing cloud resources, and allows our customers to focus on what makes their business great.”
Core Capital’s Evan MacQueen expressed enthusiasm for the investment, saying, “Hybrid / Multi-cloud strategies will become best practice, and DivvyCloud is perfectly positioned to help businesses exploit the dynamic market for cloud computing to meet their business goals.” As part of the transaction, Bill Boyle, founder and former CEO of FiberGate, will join the DivvyCloud board of directors.
DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying the lifecycle management of IT resources across leading public/private cloud technologies and services. DivvyCloud was founded by seasoned technologists who understand what is necessary to succeed in today’s dynamic, multi-cloud world. DivvyCloud’s software delivers multi-cloud resource visibility, provisioning, management, monitoring and migration capabilities to improve security, reduce costs, and maintain operational agility.
About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Clinic, Johnson & Johnson, General Electric and Alpha Natural Resources.
About Core Capital
Core Capital is a venture capital firm headquartered in Washington, DC. The firm manages $400 million across three funds and provides capital to high-growth technology companies. Core Capital focuses on enterprise software with particular emphasis on cloud, cybersecurity, data analytics, and mobile, led by seasoned entrepreneurs and industry experts.
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