AAA Comcast-backed Nebula shuts down

Comcast-backed Nebula shuts down

Nebula, a US-based cloud computing technology company backed by cable and telecommunications company Comcast, is shutting down after four years.

Founded in 2011, Nebula took two years before officially launching its product, a system that turns existing server rooms into high-performance data centres, in 2013.

Nebula raised $25m in a 2012 series B round led by Comcast’s corporate venturing unit, Comcast Ventures. The round also featured Highland Capital and Kleiner Perkins Caufield & Byers (KPCB), the two investors in a $10m series A round the previous year, as well as Innovation Endeavours and several angel investors.

The company also obtained $3.5m in debt financing in April 2014, according to a regulatory filing.

In a statement on its website, Nebula’s management team said: “We are incredibly proud of the role we had in establishing Nebula as the leading enterprise cloud computing platform. At the same time, we are deeply disappointed that the market will likely take another several years to mature. As a venture backed start up, we did not have the resources to wait.”

Nebula has stopped providing support for its technology as of April 1, though the private cloud environments set up at its clients’ server rooms will continue to operate.

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