Round Will Support Aggressive Expansion Both in the U.S. and Abroad
BOSTON, MA – August 30, 2016 – Cloud Technology Partners (CTP), the premier cloud services and software company for enterprises moving to cloud, today announced that it successfully closed its Series C funding round. Existing investors Rackspace (NYSE: RAX), State Street Bank (NYSE: STT) and Pritzker Group Venture Capital participated in the financing. Scott Crenshaw, Senior Vice President Strategy and Product at Rackspace and Antoine Shagoury, Executive Vice President and CIO at State Street Bank, have joined the Cloud Technology Partners Board of Directors.
“We have experienced near triple-digit growth this year and our outlook for 2017 and beyond is equally strong. We are using this funding to support our rapid expansion while scaling our core offerings, go-to-market programs and global coverage,” said Chris Greendale, Founder and CEO, Cloud Technology Partners. “We are exceedingly pleased with the vote of confidence our investors, ecosystem partners, clients and employees have made in us as we continue to build a great cloud company.”
Specifically, the funding will be focused in these four areas:
1) Expanding the Cloud Adoption Program
Based on the best practices from hundreds of successful engagements, the Cloud Adoption Program helps clients safely accelerate their cloud application migration by bringing together the best technology, practices and learnings for enterprise-wide cloud adoption.
“The Cloud Adoption Program has been a huge success with our enterprise clients who want to ensure their cloud initiatives start – and stay – on track,” said Robert Christiansen, Vice President and Cloud Adoption Practice Lead at Cloud Technology Partners. “CTP’s prescriptive approach to cloud adoption and application migration has proven invaluable to dozens of enterprises including the most prominent financial services, telecommunications, manufacturing and technology firms in the world. Today we are expanding the program to cover end-to-end cloud adoption for clients across all industries and on all major public cloud providers including Amazon Web Services, Google Cloud Platform and Microsoft Azure.”
2) Expanding CTP’s Digital Innovation Practice
“Our clients are turning to CTP to design and implement cloud-native software solutions leveraging the Internet of Things (IoT), Big Data, Machine Learning, Blockchain and other emerging technologies. We are already working on some of the world’s most advanced IoT initiatives and we will be using this round to continue to expand our IoT, software development and innovation capabilities,” said John Treadway, Senior Vice President, Cloud Technology Partners.
3) Building CTP’s Managed Services Capabilities
This April, Rackspace and Cloud Technology Partners announced a strategic partnership to deliver professional and managed services for enterprises leveraging Amazon Web Services, Microsoft Azure and other cloud platforms.
“The Rackspace and CTP teams are integrating our offerings to create a new category of managed services and provide enterprise clients with unparalleled end-to-end cloud services,” said Brian Ott, Vice President and Shared Services Practice Lead, Cloud Technology Partners. “We reduce the risk and accelerate the success of our clients’ cloud adoption and ongoing operations by working as one cohesive team from the early stages of an engagement through the operations and optimization phases. This eliminates any disruption during a client’s onboarding to a management platform.”
From cloud strategy through ongoing operations, the new joint offerings deliver the best managed services, software and intellectual property available on the market.
4) Expanding CTP’s Sales & Delivery Teams
“In order to meet unprecedented market demand, we are also using the C round to grow our sales and delivery teams both across the United States and Internationally,” said Bruce Coughlin, Executive Vice President, Cloud Technology Partners. “The market opportunity is staggering and we look forward to scaling globally to support our enterprise clients. This funding will allow us to invest properly in both sales and delivery, while also driving the innovation that our clients expect.”
About Cloud Technology Partners
Cloud Technology Partners (CTP) is the premier cloud services and software company for enterprises moving to AWS, Google, Microsoft and other leading cloud providers. From strategy to operations, CTP accelerates end-to- end cloud adoption with the best implementation services, software and intellectual property available on the market. CTP’s comprehensive framework for cloud adoption and dedicated software development capabilities help clients achieve business results faster, no matter where they are in their cloud transformation.