Cloud Cruiser Announces Series A Funding for Next Generation of Cloud Management

August 30, 2010

SAN FRANCISCO, Aug. 30 /PRNewswire/ — Cloud Cruiser, Inc, a cloud computing startup that was voted “Best of Show” at the recent VCTaskforce Angel Investing Event held in Palo Alto, announced that Wavepoint Ventures has led the company’s first round of financing.

“We are very pleased to have Wavepoint Ventures join with a group of experienced angel investors to fund the Series A financing for Cloud Cruiser,” stated Dave Zabrowski, Founder and CEO of Cloud Cruiser. “While our company is currently in stealth mode, we will be making product announcements in the future.”

Cloud Cruiser selected VMworld as an ideal venue to make the funding announcement because of the conference’s focus on both virtualization and cloud computing, two technologies that are of primary interest to data center managers.

According to a leading industry analyst research firm, Gartner, Inc, worldwide cloud services revenue is forecast to reach $68.3 billion in 2010, a 16.6 percent increase from 2009 revenue of $58.6 billion. The industry is poised for strong growth through 2014, when worldwide cloud services revenue is projected to reach $148.8 billion. Cloud Cruiser’s unique solution addresses the growing pain of both cloud service providers and enterprises that are implementing virtualization and cloud computing infrastructure.

Peter Gardner, Managing Director of Wavepoint Ventures noted, “Our firm invests in capital efficient businesses that solve high priority problems for customers in markets that are undergoing rapid change. Cloud Cruiser’s ability to enhance the adoption of cloud computing, coupled with the deep domain experience of the team, is the right combination to position the company as a potential leader in this market.”

About Cloud Cruiser: Cloud Cruiser is a cloud computing software company focused on eliminating the growing pain experienced with public and private cloud computing. The company is currently in stealth mode. To learn more visit http://www.cloudcruiser.com/

SOURCE Cloud Cruiser

Source: newswire

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