CloudBees Grabs $11.2M Funding Round Led by Verizon Ventures
CloudBees today said it has closed an $11.2 million Series C financing round led by Verizon Ventures, the investment arm of Verizon (VZ), only a couple of weeks after the two companies partnered to bring the CloudBees platform-as-a-service (PaaS) offering to the new Verizon Cloud.
The financing round, which also included existing investors Matrix Partners and LightSpeed Venture Partners, as well as new investor Blue Cloud Ventures, will bring the total investment in CloudBees to $25.7 million.
CloudBees said the new funds will be used to bring additional product capabilities to market, fund sales expansion and extend the reach of the CloudBees brand. The financing will also be used to support CloudBees channel partners.
CloudBees Business Development Vice President Andrew Lee told Talkin’ Cloud that the company would “like to expand the good and growing set of more than 40 services partners at CloudBees.”
“These are systems integrators, software consultants and design firms that use the CloudBees PaaS to build applications with and for their clients,” he said.
Lee said the company is “finding that people want to take CloudBees to market in new ways,” pointing to the company’s recent partnership with Verizon Cloud as an example.
“Verizon will act as a channel to take the CloudBees PaaS to their global footprint of customers,” he said. “Others want to distribute or resell Jenkins Enterprise as they see it in use already at customer prospects.”
With regards to future financing rounds, Lee said Cloudbees is “open to discussing future financing when and if the time comes.”
“If it serves to accelerate our business, we’re open to the dialogue,” he said. “We’re pleased with today’s news and to have additional invested partners who have now joined us on the journey ahead.”
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