Press release: December 1, 2010
Standing Cloud Closes $3 Million Series B Financing
Avalon Ventures leads round with Foundry Group participation
December 1, 2010: Standing Cloud today announced it has closed Series B financing of $3 million led by Avalon Ventures, a San Diego and Boston fund with several prior cloud computing-related investments. Foundry Group, in Boulder, Colo., which led Standing Cloud's Series A rounds totaling $2 million, joined Avalon in this round.
The funds will be applied toward continued development and marketing of Standing Cloud's unique cloud application management platform. In particular, the company will invest in the development and roll-out of its forthcoming Standing Cloud Application Network. The Application Network will take the "app store" concept to a new level by bringing together end users, applications and their plug-ins, cloud infrastructure providers and solution providers.
"I'm excited to be involved with Standing Cloud. I love the way they're making it easy to immediately host cloud applications without any friction," said Avalon managing member Rich Levandov. "That level of interface could set an industry standard for hosting applications in the cloud."
Avalon has previously invested in several cloud-related companies including Backupify, Cloudkick, Cloudant and TwinStrata. Levandov will join the Standing Cloud board of directors.
Foundry Group managing director Brad Feld, a Standing Cloud board member, said, "Having worked with Rich Levandov and his partners at Avalon in the past on companies like Zynga and NewsGator, I'm excited to work with them again on Standing Cloud."
Standing Cloud is an application management software company that makes it easy to deploy and manage applications with reliability and control, using cloud technology. The service supports more than 70 open-source applications and world-class cloud providers and offers one-click installations (including free test drives); round-the-clock monitoring and auto-restore, including restore to another cloud hosting service in the event of downtime; easy access to backup data; and root access. Target customers include SMB users who want to deploy applications on their own, and solution providers or IT professionals who want to save time, money and pain while maintaining a high level of control and reliability.
For more information:
laura [dot] rich [at] standingcloud [dot] com