US-based cloud network provider Plumgrid has closed a $16.2m series B round featuring Qualcomm Ventures and Swisscom Ventures, the investment arms of telecommunications providers Qualcomm and Swisscom respectively.
The round also included investment from venture capital firms Longworth Venture Partners, US Venture Partners and Hummer Winblad Venture Partners.
USVP and Hummer Winblad previously invested in Plumgrid’s $10.7m series A round in August 2012, which followed $2.1m in debt financing secured in September 2011.
“Plumgrid is the first company to deliver a comprehensive cloud networking suite to help our customers build OpenStack clouds without worrying about scale, performance and security,” said Plumgrid CEO Awais Nemat.
“Our solution reduces the time to build clouds, lowers overall cost and accelerates delivery of new services to market.”