Following $23M Series A, CloudBolt Software plans hiring - Technical.ly DC

Business

Jul. 12, 2018 12:14 pm

Following $23M Series A, CloudBolt Software plans hiring

The Rockville, Md.–based company attracted the second recent D.C.–area investment from New York–based Insight Venture Partners.

In the cloud.

(Photo by Flickr user Abby Lanes used under a Creative Commons license.)

Rockville, Md.–based CloudBolt Software is looking to double staff following the recent close of a $23 million Series A round.

The funding was led by Insight Venture Partners. The New York VC also recently backed D.C.–area company LeaseAccelerator. Originally named SmartCloud prior to 2012, CloudBolt had found its way in the enterprise market and is now poised to grow significantly.

The funding itself comes at a point within the cloud industry where the need for companies to transition from on-premise clouds to hybrid clouds is dramatically increasing. The global hybrid cloud market, which was valued at $40.62 billion in 2017, is expected to reach a value of $138.63 billion by 2023, according to the company.

In an era where the term “cloud” is thrown about with wild abandon, what exactly is a “hybrid cloud?” Per CloudBolt CEO Brian Kelly, “a hybrid cloud system means that the underlying technologies come from a mix of resources that can include on-premises, private cloud, a public cloud resources.”

The company’s clients include Airbus, Electronic Arts, The Home Depot, and Xerox.

The advantage for using a hybrid cloud architecture “provides a way for enterprises to take advantage of the benefits of each emerging cloud technology environment as well as leverage its existing legacy systems that still work well,” said Kelly. “CloudBolt makes it easier for enterprise IT to provision resources to their teams. We help remove the backlog of IT requests with fully managed self-service IT resources.”

With the investment, the company is looking to “enhance each of the functional areas in the organization. The approach will be a balance of product development, product support, sales, and marketing investment.”

The company currently has 35 employees, and is planning to increase that total to 70 over the next 18 months. Kelly said most of the company’s leaders are in the D.C. area. It also has offices in Portland, Oregon, and a distributed workforce in locations around the country.

-30-
LEAVE A COMMENT

Advertisement

Framebridge raises $30M Series C

A pop-up hotel is coming to NoMa

Verodin raises $21M Series B, plans international expansion

SPONSORED

DC

Pitch for up to $360,000 in funding at the WeWork Creator Awards

Philadelphia, PA (or surrounding areas)

Technically Media

Events Coordinator

Apply Now
Philadelphia, PA OR Remote

Stitch, Inc.

Director, Alliances

Apply Now
DC, SF, NYC

Nava

Experienced Software Engineer – Backend

Apply Now

1776 launches accelerator to help startups get ‘investor ready’

How fintech startup Sou Sou is empowering women entrepreneurs

Xometry acquires competitor MakeTime, raises $25M

SPONSORED

DC

VR is cool, but it isn’t mainstream. This local company has a fix for that

Baltimore/DC

GiveCentral

Outside Sales Rep

Apply Now
Washington, DC

Nava

Infrastructure Engineer (DC, SF, NYC)

Apply Now
Washington, DC

Technically Media

DC Tech Reporter, Technical.ly

Apply Now

Sign-up for daily news updates from Technical.ly

Do NOT follow this link or you will be banned from the site!