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Piston Cloud Closes $8 Million in Series B Funding to Accelerate OpenStack Adoption
OpenStack Pioneer's Unique Technology Attracts Investments From Cisco, Data Collective, Divergent Ventures, Hummer Winblad, Swisscom Ventures and True Ventures
By: Marketwired .
Feb. 5, 2013 09:01 AM
SAN FRANCISCO, CA -- (Marketwire) -- 02/05/13 -- Piston Cloud Computing, Inc., the enterprise OpenStack company, today announced it has raised $8 million in Series B funding. The investment will be used to fuel product development, meet the needs of Piston Cloud's rapidly expanding customer base and further deliver on the company's vision for mass adoption of OpenStack. Cisco Systems Inc., Data Collective and Swisscom Ventures join Divergent Ventures, Hummer Winblad and True Ventures as principal investors.
"We evaluated a number of opportunities in the OpenStack market, and expect to see continued growth and widespread adoption in the coming years. After extensive strategic industry analysis, we identified Piston Cloud as having the resources, pedigree and proven technology platform to capture the lion's share of this growing market."
"Working with Piston Cloud from day one, we have been thrilled with the company's growth and traction in the market. We believe the company has the talent, technology and vision to deliver next-generation cloud to the enterprise and beyond."
"After our initial Series A investment, we have watched Piston Cloud grow substantially and lead the commercial OpenStack market. The promise of their core technology, combined with the management team's track record and OpenStack history, continues to make this a compelling and exciting investment opportunity."
"Having worked with Piston Cloud since 2011, we've been impressed by the team and their innovative approach. At True Ventures, we are big believers in disruptive technologies; and we are excited about Piston Cloud's high-leverage, differentiated software business model. The Piston Cloud team has a compelling vision and has proven their ability to execute."
About Piston Cloud Computing, Inc.
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