IVP Joins Existing Investors to Fuel Eucalyptus’ Leadership as the Most Widely Deployed On-Premise IaaS Solution; IVP’s Steve Harrick Joins Board of Directors
SANTA BARBARA, Calif. – April 18, 2012 – Eucalyptus Systems, creator of the most widely deployed on-premise cloud computing platform, today announced an oversubscribed $30 million Series C round of funding led by Institutional Venture Partners (IVP). Existing investors, including Benchmark Capital, BV Capital, and New Enterprise Associates (NEA), Inc., also joined the round, which will be used to drive product innovation, sales, and customer support. To date, Eucalyptus has raised a total of $55.5 million in capital.
With this round, Eucalyptus has appointed Steve Harrick, General Partner at IVP, to its Board of Directors. IVP is one of the top performing venture capital firms in the industry, having made similar late-stage investments in companies like Aster Data Systems, DropBox, LegalZoom, MySQL, Netflix, Seagate, Twitter, and Zynga.
“Eucalyptus has created the most powerful on-premise IaaS solution in the cloud industry, and in return it has experienced significant customer and partner growth,” said Steve Harrick, General Partner at IVP. “The company’s continued success is a reflection of its hardworking and focused team which knows how to build, grow, and scale a successful business. Eucalyptus’ leadership and track record of success make them a welcome partner and we look forward to working with their team to build a revolutionary business.”
Eucalyptus has experienced significant momentum over the last year, including its recent agreements with Amazon Web Services, Wipro Infotech, and CETC32 for its Hua-Cloud offering in China. Additionally, the company’s partner ecosystem has more than doubled to include over 200 of the top cloud and infrastructure automation vendors. Eucalyptus has also continued its leadership in product innovation, recently announcing the third generation of its on-premise IaaS software, Eucalyptus 3. The platform delivers an enterprise-grade, open source IaaS platform for businesses that require feature-rich and highly available private and hybrid clouds. Eucalyptus is now enabling 25,000 cloud starts each year at leading organizations including Aerospace Corporation, InterContinental Hotels Group, Plinga, PUMA, USDA, and USASpending.gov.
"We are rapidly expanding operations to meet the needs of advanced cloud deployments by customers and partners worldwide. This funding will help us move even faster in a rapidly growing cloud market," said Marten Mickos, CEO of Eucalyptus. "Over the last year, Eucalyptus has solidified its lead as the most widely deployed private cloud software platform and the leader in hybrid architectures."
In response to increased market demand, Eucalyptus has nearly tripled its employees in the last year and half. The company is continuing to hire for more than 30 open positions across engineering, sales, marketing, and customer support.
About Institutional Venture Partners (IVP)
With $3 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XIII, a $750 million later-stage fund focused on investments in rapidly growing technology and media companies. Founded in 1980, IVP has invested in over 300 companies, 90 of which have gone public. IVP is one of the top performing firms in the industry and has a 31 year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Aspect Communications, ComScore (SCOR), Concur Technologies (CNQR), Digital River (DRIV), Dropbox, HomeAway (AWAY), Juniper Networks (JNPR), Kayak, LegalZoom, LivingSocial, MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate (STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter, and Zynga (ZNGA). For more information, visit http://www.ivp.com or follow IVP on Twitter at @ivp.