CloudOne, a leader in bringing enterprise applications to the cloud, announced today it secured $4.5 million in Series D investment to accelerate the company's growth.
Led by Plymouth Ventures of Ann Arbor, Mich. with expected participation by existing investors HKS Capital Advisors and Elevate Ventures through the Indiana 21st Century Research & Technology Fund, the investment will fuel the expansion of the company's hybrid cloud platform that enables companies such as Cummins, Panasonic and McDonald's to collaboratively develop, produce and analyze software and products in real time.
'CloudOne is transforming how teams around the world work together to bring software and products to market,' said John McDonald, chief executive officer of CloudOne. 'This investment and the expertise of Plymouth Ventures provides our team even more strength to continue broadening our technology platform and bring our customers new innovations that make it easier, faster and more economical to make products for the Internet of Things.'
Founded in 2010, CloudOne has become one of the nation's fastest growing private companies, posting sales growth of 892 percent over the past three years. Inc. magazine named it the 533rd fastest growing company in America and Indiana's fastest growing IT company in its 2014 Inc. 500|5000 ranking of the nation's fastest-growing private companies.
'CloudOne's momentum and proven success accelerating innovation with Fortune 500 companies makes it a perfect addition to Plymouth Ventures portfolio,' said Jeff Barry, partner at Plymouth Ventures. 'Together, we have an incredible opportunity to scale the company and provide customers the next generation of solutions they need to make software and products in a world dominated by the Internet of Things.'
Barry, who serves on the board of directors for IDV Solutions, InContext Solutions and 365 Retail Markets, will join the CloudOne board of directors as part of the investment from Plymouth's $61 Million PVP Fund III.
The news of CloudOne attracting growth capital follows CloudOne's acquisition of North American sales and marketing operations of Sodius Corporation, the market leader in interoperability solutions for systems development, and a global purchasing agreement with Capgemini, one of the world's foremost providers of consulting, technology, outsourcing services and local professional services.
About CloudOne
CloudOne helps the world's best companies make their things for the Internet of Things. The company brings enterprise applications to the cloud, enabling global collaborative development, production and analysis of software and products in real time on individual, secure, private hybrid cloud environments. Trusted by leading brands, CloudOne's scalable technology is supported by a team of experts and partners who share a passion for making it easier, faster and more economical to make things for the Internet of Things. For more information, visit http://www.oncloudone.com.
About Plymouth Ventures
Plymouth Ventures is the manager for Plymouth Venture Partners I, Plymouth Venture Partners II, and Plymouth Venture Partners III. The company has four partners, Mark Horne, Jeff Barry, Kevin Terrasi, and Evan Ufer. Plymouth was founded by Ian Bund who remains active as a Senior Advisor. The firm is headquartered in Ann Arbor, Michigan. For more information, please visit http://www.plymouthvc.com.