Tuesday, September 10, 2013

Standing Cloud Acquired By AppDirect

Boulder-based cloud management services startup Standing Cloud has been acquired by a fellow, cloud-based software developer, AppDirect, AppDirect said this morning. Financial details of the acquisition were not announced by the company. Standing Cloud, which is led by David Jilk, will remain in Boulder. AppDirect is based in San Francisco. Standing Cloud was venture backed by Foundry Group and Avalon Ventures, and had raised $10M in funding. As part of the acquisition, AppDirect said it has raised $9m in a Series B led by iNovia Capital, and it has also become a portfolio company of Foundry Group.