Tuesday, December 21, 2010

Foundry Group Boosts Cloud Engines

Boulder-based Foundry Group has re-upped its investment in a developer of a device for providing cloud-based backup and storage, Cloud Engines. San Francisco-based Cloud Engines said Foundry--its original investor--participated in a new funding worth $15M for the firm. New investors in the company included Softbank Capital and Morgan Stanley Alternative Investment Partners (AIP). Cloud Engines develops the Pogoplug, a device which attaches to a computer and provides cloud-based backup. Foundry's investment in Cloud Engines is overseen by Ryan McIntyre.