B Round Close Solidifies Position as Enterprise Cloud Leaders
BOSTON, MA – Dec 9, 2014 – Cloud Technology Partners, the leader in transforming businesses through cloud solutions, today closed a $9.1 million Series B financing round led by Oak Investment Partners and the Pritzker Group. The funding will be used to rapidly scale Cloud Technology Partners’ sales, marketing and delivery capabilities.
“Cloud Technology Partners continues to impress. The company has gained an impressive client base and is working with many returning customers including General Electric to prepare new sets of applications for migration to the cloud,” said Ed Glassmeyer, Managing Partner of Oak Investment Partners.
“Cloud Technology Partners is the preeminent thought leader in the fundamental shift from on-premise computing infrastructure to the cloud,” said Chris Girgenti, Managing Partner, Pritzker Group Venture Capital. “Cloud Technology Partners management has built leading businesses during two past IT infrastructure transitions and assembled the team and product resources necessary to capitalize on this historic opportunity.”
“Pritzker values distinctive companies with highly defensible market positions, so we are gratified by their confidence in us,” said Chris Greendale, Founder and CEO of Cloud Technology Partners.
“In the past year our headcount has doubled and the demand for our cloud services and software has never been greater. We are well positioned in a high growth market and excited to continue to expand our reach and capabilities.”
Cloud Technology Partners has completed over 75 cloud projects for enterprise clients in 2014, including many in the Fortune 500. The firm works closely with Amazon Web Services (AWS), Google Cloud Platform and other leading cloud providers to accelerate enterprise adoption of public cloud services.
In addition to Oak and Pritzker, the Series B round includes funding from existing investors and significant contributions from employees. This brings Cloud Technology Partners total funding to $14 million and further enhances the firm’s position as the market experts for building cloud infrastructures and applications.
About Cloud Technology Partners
Cloud Technology Partners provides services and software to accelerate enterprise cloud implementations. Services expertise includes architecting, building and managing cloud infrastructures, migrating applications and data to cloud environments and developing cloud-native applications. Cloud Technology Partners software solutions streamline cloud migration and development while improving the cloud readiness of enterprise applications. For more information, please visit: www.cloudtp.com.