Thursday, November 10, 2011

Standing Cloud Ropes In $3M More

Boulder-based Standing Cloud, the developer of application software for the cloud computing market, announced today that it has raised $3M in a new funding round. The round came from existing investors Foundry Group and Avalon Ventures. Standing Cloud, which is headed by David Jilk, said that the new funding brings its total raised to $8M. As par tof the funding, the company has added Will Herman--a TechStars mentor--to its board. Herman was formerly CEO of Innoveda (acquired by Mentor Graphics), founded Viewlogic Sytsems, and has served at Silerity and Scopus Technology. Standing Cloud said the new funds will go towards continued development and deployment of its products. Standing Cloud provides a pre-configured set of over 100 open-sourec and commercial applications, which can easily be deployed on a variety of cloud computing platforms. More information »