Enterprise IT/IT Services

$16.2m funding could help develop public and private cloud

IT Services Duncan MacRae

09:36, June 27 2014

Startup PLUMgrid hopes to use the cash to ‘innovate in new markets’.

PLUMgrid, a provider of secure virtual network infrastructure for private and public clouds, has completed its Series B round of financing, totalling $16.2m.

Longworth Venture Partners led the investment, with participation from US Venture Partners, Hummer Winblad Venture Partners, Qualcomm Ventures and Swisscom Ventures. The additional funding will help PLUMgrid grow its global sales and marketing efforts, and continue to innovate for new markets.

Nilanjana Bhowmik, PLUMgrid board member and partner at Longworth Venture Partners, said: "PLUMgrid addresses a hard problem for cloud infrastructure - how to deliver secure, scalable and automated cloud networks.

The PLUMgrid team brings together solid leadership, great technology, customer focus and impeccable execution. We see a broad set of use cases for their technology, and strong capabilities to continue to lead the market."

Source: Company Press Release


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