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News & Press: Colorado Technology Industry

CSIA DEMOgala Company Standing Cloud Nets $3 Million in VC Investments

Wednesday, December 1, 2010   (0 Comments)
Posted by: Su Hawk
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Standing Cloud Nets $3 Million in VC
By Beth Potter, Boulder County Business Report

(CSIA Introduction - Standing Cloud was one of the companies selected for our DEMOgala Showcase in 2009, and we're so proud that their success continues.)

December 1, 2010 --
BOULDER - Application-management software company Standing Cloud Inc. has closed a $3 million round of Series B financing led by Avalon Ventures, a venture capital firm based in San Diego and Boston.

The Boulder-based company will use the money to continue to develop and market its "cloud" platform software, including its new Standing Cloud Application Network, according to a press statement. Boulder-based venture firm Foundry Group also invested in the latest financing round.

Cloud computing basically means computer users working on the Internet are able to use computer applications such as Drupel or Wordpress website development software systems in that environment. Other common software systems in "cloud" computing include vTiger and SugarCRM, two customer relationship management/sales force-related software programs, said David Jilk, the company's chief executive officer. In all, Standing Cloud supports more than 70 open-source applications.

"Having worked with Rich Levandov and his partners at Avalon in the past on companies like Zynga and NewsGator, I'm excited to work with them again on Standing Cloud," Brad Feld, a managing director at Foundry Group, said in the press statement.

Small- and mid-size businesses and information technology professionals will be target customers for the new Application Network software, the company said. Standing Cloud has 13 employees. The company does not disclose revenue or customer numbers, Jilk said.

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