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Standing Cloud Closes $3 Million Funding Round

November 10, 2011

Entrepreneur and TechStars Mentor Will Herman Joins Board of Directors

(PRWEB) November 10, 2011

Standing Cloud, a leading provider of cloud application management services, today announced it has raised an additional $3 million in financing from existing investors Foundry Group and Avalon Ventures. The round brings the company’s total funding to date to $8 million.

The company also announced the addition of experienced entrepreneur and TechStars mentor Will Herman to its Board of Directors. Currently an active angel investor, corporate director and start-up mentor, Herman formerly served as CEO of Innoveda, Inc, a supplier of Electronic Design Automation (EDA) software that was acquired by Mentor Graphics. He was also founder and CEO of Viewlogic Systems, CEO at Silerity, and President at Scopus Technology. In addition to Standing Cloud, Herman currently sits on the boards of three private companies, is an active advisor to several startups and is a mentor with TechStars Boston.

âœStanding Cloud is well-positioned to fill an essential and growing need in the cloud market,â said Herman. âœCloud service providers know that they need to offer an application layer for their customers, but have no effective way to build or maintain it. Standing Cloud delivers a solution to that problem today, and Iâm excited to get involved.â 

Herman joins Foundry Groupâs Brad Feld, Avalonâs Rich Levandov, and CEO David Jilk on the Standing Cloud board.

“Will is an incredibly smart and passionate entrepreneur, and his experience in developing and growing tech companies in fast-changing, emerging markets like ours is important for us,â said Jilk. âœWith our investors showing continued confidence in our market and execution, itâs definitely an exciting time, and weâre thrilled to have Will on board.â

Standing Cloud will use the funds from the round for the continued development and deployment of its cloud application management service for cloud service providers, including the expansion of automated application management and managed cloud capabilities, and the growth of its Application Storefront offering.

Standing Cloud’s customizable Application Storefront enables cloud service providers to offer their customers instant access and support for nearly 100 open-source and commercial apps and multiple programming languages, all pre-configured to run instantly and reliably on any public cloud. Once an application is up an running, Standing Cloud’s automated Application & Lifecycle Management Services provides a powerful set of automated managed services for application management and support in the cloud, including monitoring, scaling, back-ups, upgrades, auto-restore and more, all delivered transparently and automatically.    

ABOUT STANDING CLOUD

Standing Cloud provides a seamless application layer for cloud providers, making application deployment and management fast, simple and hassle-free for their customers. Standing Cloudâs standard application catalog includes 100 open-source and commercial applications; its Platform-as-as-Service (PaaS) capabilities support multiple programming languages, including Rails, PHP, Java and Python, and a wide range of cloud service providers and orchestration software systems.

Founded in 2009, Standing Cloud is based in Boulder, Colorado.  Investors include Foundry Group and Avalon Ventures.

For more information, visit http://www.standingcloud.com or follow us on Twitter @Standing_Cloud.

ABOUT FOUNDRY GROUP

Foundry Group is a venture capital firm focused on making investments in early-stage information technology, internet and software start-ups. Their passion is working alongside entrepreneurs to give birth to new technologies and to build those technologies into industry-leading companies. Located in Boulder, Colorado, Foundry Group invests in companies across North America.

ABOUT AVALON VENTURES

Avalon Ventures is an early stage venture capital fund focused on information technology and life sciences.  The firm’s current venture fund of $200 million was launched in December 2010 and continues the Avalon tradition of great relationships, companies and results spanning 30 years and nine funds.

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Source: prweb



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