The cloud has opened up massive opportunities for companies looking to streamline their processes. To Dan Phillips, founder of UMass Boston’s Entrepreneurship Center, there hasn’t been “an opportunity for disruption of this magnitude in 15 years” -- which is why he helped found CloudHealth Technologies, a SaaS platform that received $4.5 million in Series A funding today.
CloudHealth offers “Business Performance Management” for the cloud, and is backed by .406 Ventures and Sigma Prime Ventures. With CloudHealth, companies are able to analyze, model, plan and predict their cloud environment and, by doing so, optimize the performance and reduce costs.
The zeroed-in focus on Business Performance Management is what attracted .406 Ventures’ Managing Director Larry Begley, who said in a release that, “as a venture capitalist, [they] see a lot of companies focused on system administrator tools for the cloud."
Phillips, former CEO SilverBack Technologies and COO of Concord Communications, is working alongside Joe Kinsella, former vice president of engineering at Sonian and SilverBack Technologies, as well as Dave Eicher, former COO of GenArts and vice president of finance at SilverBack Technologies.
“The cloud is a strategic asset and there is an executive level need for companies to integrate cloud usage into the business model,” said Phillips in the release. “This is what CloudHealth is all about.”
The team hasn’t released any definite numbers, merely reporting “a number of customers are using CloudHealth,” but does claim they will be conducting a formal rollout over the next few months. This round of funding will go toward scaling the engineering, sales and marketing teams.