July 21, 2008
10gen, New Cloud Computing Firm, Closes $1.5m Series A
NEW YORK, July 21 /PRNewswire/ -- 10gen (http://www.10gen.com/), creator of a new Platform-as-a-Service (PaaS) technology that helps developers more quickly and easily build dynamic, scalable Web sites and applications, today announced $1.5 million in Series A financing from Union Square Ventures. The cloud computing company, founded earlier this year by DoubleClick veterans Kevin Ryan, Dwight Merriman and Eliot Horowitz, and former Joost engineering VP, Geir Magnusson Jr., aims to provide significant time and cost saving advantages by allowing developers to focus on solving business problems and delivering functionality rather than expending effort on infrastructure, scaling and system management.
"At 10gen we are building a cloud stack from the ground up -- including a database and application server -- with the design goal of running sites and services of all sizes," noted Dwight Merriman, Founder and CEO. "Rather than porting existing tools into the cloud, Web development can only prosper by building new technologies for this environment, technologies which are available in an open way such that many companies and other entities can collaborate on their development."
"The 10gen team brings together a great vision for cloud computing with amazing experience in building Internet scale systems," said Union Square Ventures partner Albert Wenger, who will be joining 10gen's board of directors. "We are excited to support them in their effort to provide the development community with an open source platform-as-a-service."
10gen is part of the AlleyCorp (http://www.alleycorp.com/) network of affiliated Internet companies. The 10gen platform is currently hosting Silicon Alley Insider (http://www.alleyinsider.com/), the business publication of its sister company Silicon Alley Media.
10gen is creating a new platform to let developers quickly and easily build complex and scalable Web applications. The 10gen cloud computing architecture will enable developers to write Web applications and automatically scale as demand increases without re-architecting code. The 10gen stack includes a powerful database and application server. For more information, please visit http://www.10gen.com/ or email [email protected] For career information please email resumes to [email protected]
About Union Square Ventures
Union Square Ventures is an early stage venture capital firm based in New York City. USV invests in companies that disrupt markets by capitalizing on ubiquitous connectivity and commodity IT infrastructure. USV's current portfolio includes Etsy, Twitter and Indeed, and past investments include Tacoda (acquired by AOL), FeedBurner (acquired by Google) and del.icio.us (acquired by Yahoo!). For more information, please visit http://www.unionsquareventures.com/.
Contact: Michael Berkowitz Director of Corporate Communications AlleyCorp LLC (646) 747-1544 [email protected]
CONTACT: Michael Berkowitz, Director of Corporate Communications,AlleyCorp LLC, +1-646-747-1544, [email protected]
Web site: http://www.10gen.com/http://www.alleycorp.com/http://www.alleyinsider.com/http://www.unionsquareventures.com/