Cloud Cruiser Announces $6M Series B Financing Led by ONSET Ventures

NEW YORK, June 13, 2012 /PRNewswire/ -- Cloud Cruiser, the leader in cloud cost intelligence solutions, announced today at Cloud Expo 2012 an investment of $6 million in Series B funding.  Led by ONSET Ventures, a veteran Silicon Valley venture capital firm, the growth capital will be used to accelerate development of new product capabilities and expand Cloud Cruiser's domestic and international go-to-market activities.  

Cloud Cruiser provides a revolutionary cost analytics software solution that delivers cost intelligence based on granular, enterprise-wide resource usage and spending across public, private, and hybrid cloud environments.  By leveraging a centralized repository of all enterprise IT spending, customers achieve end-to-end cost transparency, enabling them to optimize costs, set budgets and alerts, implement chargeback, perform business analysis, and ultimately realize the promised cost savings of the cloud. 

"The IT industry is at the cusp of massive spending in enterprise cloud computing," states Dave Zabrowski, Founder and CEO of Cloud Cruiser.  "ONSET Ventures' investment in Cloud Cruiser is great validation of enterprise adoption of cloud computing and the critical requirement for cost intelligence capabilities to ensure success."

ONSET Ventures, Cloud Cruiser's lead investor, specializes in providing start-up, follow-on, and intellectual capital to entrepreneurs and early-stage technology ventures, to help transform world-class ideas into sustainable and valuable businesses, through a process of "venture craftsmanship."  The firm has partnered with start-ups since 1984 and has more than $1 billion under management. Terry Opdendyk, Founder of ONSET Ventures, will be joining Cloud Cruiser's board of directors.

"Cloud Cruiser is uniquely positioned to take advantage of the exploding growth of the cloud computing market," notes Terry Opdendyk. "Based on the company's unique cloud architecture and market penetration to date, we are confident that Cloud Cruiser will be the go-to cost analytics platform for enterprise computing."

Joining ONSET Ventures in this round is previous Series A lead investor, Wavepoint Ventures. 

Cloud Cruiser has recently announced several important company milestones, further demonstrating the tremendous momentum the company is currently experiencing, including product integrations with HP CloudSystem and Microsoft System Center 2012 and channel expansion with premier software reseller, Seamless Technologies.  

Cloud Cruiser is exhibiting in Booth #456 this week at Cloud Expo 2012 in New York and will be presenting "Show Me the Money!" in the Enterprise Cloud Computing track on Thursday, June 14.  For more information or to request a demo, visit www.cloudcruiser.com or email [email protected].

The Cloud Cruiser logo, product names and logos and combinations thereof, are trademarks of Cloud Cruiser, Inc. All other names are for informational purposes and may be trademarks of their respective owners.

SOURCE Cloud Cruiser