Boston – March 12, 2013 – CloudHealth Technologies announced today that it has closed a $4.5 million Series A round with .406 Venturesand Sigma Prime Ventures to launch CloudHealth. CloudHealth is the first SaaS platform that provides Business Performance Management for the Cloud. With CloudHealth, management can trend, analyze, model, plan, and predict their cloud environment by customer, product, service, organization, or any logical business view. CloudHealth ultimately enables companies to optimize the performance and reduce the cost of the cloud, based on business needs.
CloudHealth Technologies founding team has a long and successful track record working together in IT and cloud management. The team comprises Dan Phillips, former CEO of SilverBack Technologies and COO of Concord Communications, Joe Kinsella, former VPE of Sonian and VPE of Silverback Technologies, and Dave Eicher, former COO of Genarts and VP Finance of SilverBack Technologies. “The cloud market is analogous to the network market in the 90’s”, said Phillips. “We haven’t seen an opportunity for disruption of this magnitude in 15 years. The cloud is a strategic asset and there is an executive level need for companies to integrate cloud usage into the business model. This is what CloudHealth is all about”.
Larry Begley, Managing Director of .406 Ventures, and Bob Davoli, Managing Director of Sigma Prime Ventures, are strong believers in the company and the opportunity. “As a venture capitalist, we see a lot of companies focused on system administrator tools for the cloud”, says Begley. “But CloudHealth is the first to focus on Business Performance Management. With Joe’s extensive IT and cloud software management expertise and with Dan’s proven track record of building successful IT software management companies, we are very excited about this opportunity.”
CloudHealth Technologies has a number of customers using CloudHealth and will be conducting a formal rollout over the next few months. The company is located in Boston and will be using the funds raised to scale the engineering, sales, and marketing teams.
About CloudHealth Technologies:
CloudHealth Technologies is a SaaS software development company offering CloudHealth, the first Business Performance Management software platform for the cloud. CloudHealth allows companies to trend, analyze, model, plan, and predict performance and cost optimization for the cloud as it applies to their business model. CloudHealth Technologies is headquartered in Boston MA and offers CloudHealth worldwide on a subscription model basis with self service account set up that takes minutes.