O’Melveny Represents Metacloud in Series A FinancingJune 26, 2013 FOR IMMEDIATE RELEASE
O’Melveny & Myers LLP
SILICON VALLEY, CA ─ June 26, 2013 ─ O’Melveny & Myers LLP represented Metacloud in a US$10 million Series A funding round. The company is an innovator in cloud data technology and will use the financing to expand globally.
The O’Melveny team was led by partner Paul Sieben and associate Tom Oslovar.
About O’Melveny & Myers LLP
With approximately 800 lawyers in 16 offices worldwide, O’Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com
The following release was recently issued by Metacloud:
Metacloud Announces $10 Million ‘Series A’ Funding to Extend Private Cloud Offerings
Canaan Partners Leads Round; Joins Original Investors Storm Ventures and Jerry Yang’s AME Cloud Ventures
PASADENA, Calif. – June 26, 2013 – Metacloud, Inc., which delivers the industry’s first on-premise, private cloud-as-a-service, today announced it has raised $10 million in a Series A funding round. Canaan Partners led the round and was joined by existing investors Storm Ventures and AME Cloud Ventures.
The financing will be used to accelerate the company’s growth, pace of innovation, and global expansion to meet the rapid demand for Metacloud’s Carbon|OS OpenStack-based private cloud solution.
“In addition to a transformative delivery model, Metacloud defines the gold standard of what we look for in a founding team,” said General Partner Maha Ibrahim, Canaan Partners. “With large scale infrastructure engineering experience gained during their years at Ticketmaster and Yahoo!, Sean Lynch and Steve Curry have the pedigree to deliver on Metacloud’s promise of bringing the ease of the public cloud to the private cloud environment.”
As the first company to offer a SaaS-based private cloud solution that leverages clients’ existing hardware investment, Metacloud combines the simplicity of the public cloud with the performance, security and cost advantages of the private cloud. Delivered as a service, Metacloud’s Carbon|OS empowers businesses to scale dynamic applications quickly by combining the power of OpenStack with critical enhancements for the enterprise.
“Our focus is entirely on delivering private clouds to the enterprise, and we're laser-focused on doing this better than anyone else,” said Metacloud Founder and President Steve Curry. “We are cloud experts, with DNA in large-scale infrastructure running at extreme efficiency, and that really resonates with our customers. What's important to them is continuous innovation, enterprise-readiness, and maximizing the return on their previous investments. The message ‘Do more with what you already have,’ is really appealing to most CIOs, and that's what we offer. They're leveraging Carbon|OS to drive efficiency on their existing hardware.”
"Cloud is a promising technology, but enterprises that are serious about adopting it have surprisingly few options. A number of cloud ventures are selling variations of the same solution. Metacloud, however, is coming at the problem in an entirely unique way, and we think it’s going to resonate with CIOs seeking the simplicity of public cloud and the security advantages of private cloud,” said Yahoo! Inc. co-founder Jerry Yang, who now heads AME Cloud Ventures.
“We had choices when we decided to raise a Series A round, and are delighted to welcome Maha Ibrahim from Canaan Partners to our board. She brings a strong track record of successful investments in disruptive cloud technologies and a wealth of expertise to our growing company,” said Sean Lynch, CEO of Metacloud. “Our investors clearly believe in the fundamental economics of Metacloud’s business model, and this funding will allow us to both meet existing customer demand and scale for future growth.”
Metacloud’s Carbon|OS includes 24x7 proactive support from Metacloud’s in-house cloud team to ensure maximum performance at all times. The team monitors, troubleshoots, upgrades, handles capacity planning, and performs bug fixes, enabling extraordinary service levels and helping Metacloud customers to extract extraordinary value from their private cloud investments.
Metacloud deploys and supports on-premise, OpenStack-based private clouds for some of the world's largest companies. Delivered as a service, Carbon|OS combines the simplicity of the public cloud with the performance, security and cost advantages of private cloud -- all on clients’ existing hardware infrastructure. Founded in 2011 in Pasadena, Calif., by senior architects from Yahoo! and Ticketmaster, Metacloud is an OpenStack Foundation member and an active advocate and contributor to the project and its community. For more information, visit www.metacloud.com or connect with Metacloud on LinkedIn, Twitter and Facebook.
About Canaan Partners Technology
Canaan Partners invests in entrepreneurs and works alongside them to turn visionary ideas into valuable companies. Since 1987, the firm has catalyzed the growth of disruptive technology startups and healthcare companies revolutionizing the practice of medicine. With $3.4 billion under management and more than 94 acquisitions and 54 IPOs to date, Canaan has funded companies such as Acme Packet, Associated Content (acquired by Yahoo), CommerceOne, DoubleClick (acquired by Google), ID Analytics (acquired by LifeLock), Match.com (acquired by IAC), SandForce (acquired by LSI), SuccessFactors (acquired by SAP) and Virsto Software (acquired by VMware). Current technology investments include Blurb, Kabam, Lending Club, Performance Marketing Brands, SOASTA, Tremor Video and Zoosk in the U.S.; BharatMatrimony and UnitedLex in India; and PrimeSense and LiveU in Israel. Canaan maintains a presence in the global innovation hubs of Silicon Valley, New York City, India and Israel. For more information visit www.canaan.com or www.facebook.com/canaanpartners.
About AME Cloud Ventures
AME Cloud Ventures is Jerry Yang’s technology innovation investment arm. It helps entrepreneurs from a very early stage by nurturing them with the resources, advice, and financial support need to grow their companies. For more information visit www.amecloudventures.com.
About Storm Ventures
Storm Ventures is a venture capital firm focused on investing in seed and early stage companies in the Mobile Internet, Enterprise Cloud, and Internet enabled Commerce sectors. Storm was founded by a seasoned group of industry veterans with the common vision of sharing our collective experience, passion and energy to help talented and driven entrepreneurs build great companies of enduring value. Storm has invested in over 100 companies including Airespace (Cisco), Appcelerator, BookRenter, Com2uS (Korea IPO), EchoSign (Adobe), IML (Taiwan IPO), Kidaro (Microsoft), Lightera (Ciena), Marketo, MobileIron, NetScaler (Citrix), SandForce (LSI), Sanera (McData/Brocade), and Sierra Monolithics (Semtech). For more information visit www.stormventures.com.
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Laura Finlayson or Lauren Whitehouse