PowerCloud Systems, a US-based provider of networking-as-a-service software, has raised $6m in its series B round led by new investor to the syndicate, Qualcomm Ventures, the corporate venturing unit of technology company Qualcomm.
Venture capital firms Walden Venture Capital and Javelin Venture Partners and PARC (research and co-development company Palo Alto Research Center, formerly Xerox PARC), reinvested in the B round.
PowerCloud spun out from PARC in November last year, after developing 10 patents from cloud-virtualized network controllers to usable security underpinning its CloudCommand platform.
Qualcomm earns about 70% of its revenues from licensing its patent portfolio.
Quinn Li, senior director of Qualcomm Ventures, said: "PowerCloud’s technology platform enables powerfully simple networking-as-a-service solutions that can redefine the small-business networking market."