Blue Box Secures $10M to Expand Marketing, Partnership Teams
Blue Box has secured $10 million in venture capital funding to continue its investments in engineering and products, marketing and partnership teams, and additional hires.
The Seattle-based managed, hosted private cloud solutions provider said it also plans to use the additional financing to develop additional capabilities for its management suite, Box Panel. Blue Box provides private cloud as a service (PCaaS) to customers in a range of verticals, including healthcare, financial services, digital media, gaming, technology and retail.
An undisclosed strategic investor led the Series B financing round, with participation from prior investors Voyager Capital and Founder Collective, as well as the Blue Box executive team. This investment round brings the company’s total funding to date to $17.6 million.
“As funding requirements change in the future, we’ll evaluate market conditions to determine the best possible solution at that time, however, this Series B provides the company with meaningful runway,” said Jesse Proudman, founder and CEO of Blue Box, in an interview with Talkin’ Cloud.
Proudman said some of the financing will also go toward launching new routes to market and partner initiatives. He said the channel has been a major focus for Blue Box in Q4.
Ken Cavallon, vice president of partners at Blue Box, told Talkin’ Cloud that the company is “extremely channel friendly and believes they are the key to our success.” He said many partners are pleased with being able to keep their customers as they transition them to cloud.
“With Blue Box Private Cloud as a Services, cloud aggregators, service providers and technology consultants have the best of both worlds, they get to deliver private cloud to their customers in a lucrative manner as a service with no capital expense and deliver high margin services on top of the Blue Box Cloud as well — and in the end, everyone is happy,” he said.
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