Electric Cloud Secures $9 Million.Rembrandt Venture Partners Leads Series C Investment Round to Extend Company's Lead in Software Production Management Market MOUNTAIN VIEW, Calif. -- Electric Cloud Electric Cloud, Inc. is a privately held software corporation specializing in high-performance software build tools. Electric Cloud is based in Mountain View, California and currently offers two products. [R] today announced the completion of a $9 million Series C round of financing led by Rembrandt Venture Partners, a venture capital firm focused on early-stage technology companies. All existing investors -- Mayfield Fund Mayfield Fund is a venture capital firm located on Sand Hill Road in Menlo Park, California, home to many of Silicon Valley's leading venture capital firms. Mayfield was founded in 1969 by Tommy Davis, one of the first venture capitalists. , RRE RRE Red Rock Eater (News Service) RRE Road Race Engineering RRE Remote Roof Easy RRE Residential Real Estate RRE Rise-And-Run-Length Encoding RRE Royal Radar Establishment (Great Britain) Ventures and U.S. Venture Partners -- participated in the round. Douglas Schrier, general partner at Rembrandt Venture Partners, has joined Electric Cloud's board of directors. Electric Cloud will use the proceeds to extend its lead in the software production management market and fund expansion in product development, sales and marketing. The company has raised a total of $22.1 million to date. "The financial backing of Rembrandt Venture Partners as well as participation from all our existing investors in this round is strong validation See validate. validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. of the tremendous market opportunity for Electric Cloud," said Mike Maciag, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. at Electric Cloud. "Rembrandt has a proven track record in working with technology companies and building industry leaders. Their investment and counsel will help us maintain high growth and take advantage of the exploding market for software production management." Electric Cloud's product family, ElectricAccelerator[TM], ElectricInsight[TM] and ElectricCommander[TM], are designed to accelerate, analyze and automate To turn a set of manual steps into an operation that goes by itself. See automation. software production management, which is the build/package/test/deploy process that follows software design and coding. With Electric Cloud solutions, software developers can reduce build times by as much as 20 times, improve engineering productivity and go to market faster. "Electric Cloud addresses a significant problem for software development organizations -- that is, the increasingly costly and unmanageable process of software production that can represent a huge bottleneck A lessening of throughput. It often refers to networks that are overloaded, which is caused by the inability of the hardware and transmission lines to support the traffic. It can also refer to a mismatch inside the computer where slower-speed peripheral buses and devices prevent the CPU in application delivery," commented Schrier. "The company is on a fast growth path, and we look forward to helping it build on its success as software production management becomes critical to maintaining competitiveness in all industries." About Rembrandt Venture Partners Rembrandt Venture Partners (RVP (RendezVous Protocol) A protocol used to broadcast messages within a peer group. Part of the JXTA open source peer-to-peer computing initiative, RVP clients send requests to rendezvous peers, which grants them a connection lease. ) was established as a formal venture fund in 2004 to provide private equity capital to early stage technology companies. The firm is focused on actively managing the portfolio's risk, duration and liquidity while dynamically pursuing investments in a variety of sectors including enterprise software and services, Internet infrastructure, communications equipment, next generation wireless sectors and new media convergence Media convergence is a theory in communications where mass mediums merges together to create a new product offering a variety of the properties of each. Such an example is that of the internet. companies. About Electric Cloud Electric Cloud is the leading provider of Software Production Management solutions that accelerate, automate and analyze the software development tasks that follow the check-in of new code. These include the software build, package, test and deploy processes. The company's patented and award-winning solutions improve productivity in the face of increasing product complexity and time-to-market pressures for software delivery. Leading companies such as Qualcomm, Intuit in·tu·it tr.v. in·tu·it·ed, in·tu·it·ing, in·tu·its Usage Problem To know intuitively. [Back-formation from intuition. , Motorola and Expedia rely on Electric Cloud's Software Production Management solutions to change software production from a liability to a competitive advantage. For customer inquiries please contact Electric Cloud at (650) 968-2950 or www.electric-cloud.com. [c] 2003-2007 Electric Cloud, Inc. All rights reserved. Electric Cloud, ElectricInsight, ElectricAccelerator and Electric Make are trademarks of Electric Cloud. Other company and product names may be trademarks of their respective owners. |
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