US-based cloud-storage firm Tier-3 has raised $10m in a series B round led by Intel Capital, according to new SEC filings.
Existing backers venture firms Madrona Venture Group and Ignition Capital also participated in the round, bringing the company’s total funding to $18.5m. The two firms previously participated in a series A round in 2011, which raised $8.5m for the Seattle-based firm.
The company plans to use the additional funding to expand its IT products for big business.
The firm was founded in 2006, and provides cloud-storage and other services to consulting, e-commerce, and SaaS industries.
“The Tier 3 team has the technical ability and execution focus required to help transform the enterprise cloud market segment,” said Bryan Wolf, managing director at Intel Capital. “Tier 3 will continue to be a key cloud innovator and its focus on global expansion will help to spur worldwide cloud infrastructure adoption. Intel Capital is excited to work with Tier 3 during its next phase of innovation and growth.”
“We are pleased to announce this investment from Intel Capital, and we look forward to working with them to leverage their expertise in data center optimization. Additionally, with support from Intel Capital and our existing partners Ignition and Madrona, we will work to strengthen and increase our industry presence, accelerate our innovation and expand our global footprint,” said Jared Wray, Tier 3 founder and chief executive officer.