Intel Capital, the corporate venturing arm of semiconductor chip manufacture Intel, has invested in a $9m series A round closed by ElasticBox, the US-based developer of a modular app development structure.
Venture capital fund Nexus Venture Partners also participated in the round, the two having previously funded ElasticBox’s $3.4m seed round in June 2013 alongside a16z seed and Sierra Ventures.
Founded in California in 2011, ElasticBox has developed a modular system involving what it calls Boxes, fully configured parts of the app architecture that can be combined together to create and run apps in the cloud. The Boxes can then be ‘stacked’ in order to develop a multi-tier app architecture, tweaked or shared.
“ElasticBox’s pioneering work removes the complexity and cost associated with developing, deploying and managing apps in the cloud and truly delivers the promise of cloud elasticity to enterprises,” said Arvind Sodhani, president of Intel Capital. “We look forward to helping (CEO) Ravi (Srivatsav) and team accelerate their growth with enterprises around the world.”