Electric Cloud Raises $8M to Accelerate Software Delivery Siemens' Venture Capital Leads Financing as DevOps and Continuous Delivery Move into the Mainstream
SAN FRANCISCO, Sept. 3, 2013 /PRNewswire/ -- Electric Cloud, the leader in Software Delivery Acceleration solutions, today announced that it has raised $8 million to invest in the rapidly growing DevOps market. Siemens' Venture Capital led this round of investment, and all existing investors participated, including US Venture Partners, Mayfield Fund, RRE Ventures and Rembrandt Venture Partners.
Software is the engine that powers all industries, requiring organizations to excel at software delivery. Electric Cloud's solutions enable organizations to deliver quality software faster, increasing competitive advantage in their respective markets. To increase market share within the growing DevOps movement, Electric Cloud will further invest in engineering, sales, and marketing.
"Automating and accelerating software delivery is essential to maintaining competitive advantage in an increasingly software-driven world," said Ralf Schnell, CEO, Siemens' Venture Capital. "Electric Cloud is becoming a software delivery standard for market innovators across key sectors including automotive, aerospace, computing infrastructure and medical devices."
Hundreds of the world's leading companies rely on Electric Cloud to optimize their software delivery process, including IT, ISV and embedded-software sectors. Electric Cloud has also received numerous technology awards and accolades, and has been recognized as a 2013 DevOps "Cool Vendor" by Gartner.*
"We are living in a 24x7 business world, which needs increasingly shorter delivery cycles to maintain a competitive advantage," said Steve Brodie, Chief Executive Officer, Electric Cloud. "The latest investment from Siemens and our other investors will ensure Electric Cloud remains at the forefront of the next phase of the DevOps market growth and maturation – continuous delivery."
To view the Gartner Cool Vendor in DevOps report, 2013, please visit here.
About Electric Cloud
Electric Cloud delivers solutions that automate and accelerate the software delivery process. The company's award-winning products help development organizations to speed time-to-market, boost developer productivity, and improve software quality while leveraging the operational efficiencies provided by virtual cloud infrastructures. Leading companies across a variety of industries, including financial services, ISVs, mobile devices, semiconductors, and transactional websites, rely on Electric Cloud's software delivery solutions. For more information, visit http://www.electric-cloud.com.
About Gartner's Cool Vendor Selection Process
Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Siemens' Venture Capital unit of Siemens Financial Services (SFS)
The Venture Capital unit of SFS and corporate venture capital organization of Siemens invests in early stage technology companies and established technology growth companies, focusing on the energy, healthcare, industry, and infrastructure & cities markets and hence plays a key role in Siemens' global innovation network. The aim is to identify innovative solutions from which Siemens and its customers can profit and to strengthen business partnerships with innovative industry players. To date, the company has invested more than €800 million and in over 170 companies worldwide.
*Gartner, "2013 Cool Vendor in DevOps, 2013" by Ronni Colville, Jonah, Kowall, Colin Fletcher, Jim Duggan, April 10, 2013
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SOURCE Electric Cloud