AAA Metacloud floats to $15m series B

Metacloud floats to $15m series B

Metacloud, a US-based company that operates and deploys open source cloud computing software OpenStack as a service for other companies, has closed a $15m series B round with investment from UMC Capital, the corporate venturing subsidiary of semiconductor foundry UMC.

Other new investors in the round include Pelion Venture Partners, Silicon Valley Bank, while existing backers AME Cloud Ventures, Canaan Partners and Storm Ventures reinvested in Metacloud. The company previously raised $10m in series A funding in June 2013.

“We see this round as further validation of both our business model and our technological capabilities,” said Steve Curry, president of Metacloud. “Adoption of Metacloud solutions has accelerated dramatically over the past year. Our install base has doubled over the last quarter, and our average customer grows by 10% month over month.”

Metacloud plans to use the new funding to expand its team and accelerate the evolution of its product platform.

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