Skytap Ends 2010 with a Bang, Secures $10M in Funding
Seattle-based Skytap has ends the year on a high note as they raised additional $10 million in funding. With this financial boost, the provider of cloud automation solutions has now garnered a total of $23 million from financing. Founded in 2006, Skytap is a cloud computing provider that offers virtual lab automation as their cloud service. Specific functions performed by the company includes developing, testing, migrating, evaluating, giving demos, and training on new and existing applications in the cloud for enterprises and software vendors.
An article posted in TechCrunchIT gives details on how Skytap works, and which organizations are involved in this series of funding: “Skytap enables users to run enterprise applications in the cloud, collaborate with global teams and gain business productivity. Additionally, IT organizations can gain visibility and control over cloud projects, align capacity with demand and reduce costs.Previous investors who are also represented in this new round, according to the filing, include Ignition Partners, Madrona Venture Group and Washington Research Foundation. A new name appears to be OpenView Venture Partners.”
There are various benefits being linked to Skytap. Some of these include empowerment of functional to produce cloud based virtual environments, run applications with no code changes, and collaborate worldwide by means of a self-service UI. They also give IT professionals visibility and control over cloud deployments, implement security, usage, and budget policies, and reduce costs by up to 70%. Enterprises can securely connect Skytap to their data center and create virtual private clouds.
The funds will be utilized by Skytap for their projects in 2011. It is interesting to note that cloud computing has been a very promising industry and that players are starting to augment and equip their finances to enact innovations and researches. Quest software recently takes advantage of the cloud market by launching an updated version of vFoglight—firm’s solution for application visibility and virtualization.
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