Silverton Partners led the first-round investment in the company, which includes the appointments of Kip McClanahan and Morgan Flager to CopperEgg's board of directors.
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AUSTIN, CopperEgg, Corp., the real-time analytics company, today announced $2 million in Series A funding and the launch of RevealCloud, a SaaS-based performance monitoring solution that helps companies accelerate the delivery of applications and services across public and private clouds.
RevealCloud is the latest addition to CopperEgg's suite of real-time performance monitoring solutions, including RevealStorage, launched earlier this year to help IT organizations optimize the efficiency of critical datacenter resources.
Silverton Partners led the first-round investment in the company, which includes the appointments of Kip McClanahan and Morgan Flager to CopperEgg's board of directors. The company is led by software industry veteran CEO Scott Johnson, founder of Thomas-Conrad Corporation (acquired by Compaq Computer in 1995) and Surgient Networks (acquired by Quest Software in 2010).
According to IDC, spending on public IT cloud services is expected to grow at a compound annual growth rate (CAGR) of 27.6 percent from $21.5 billion in 2010 to $72.9 billion in 2015. As new economics, technologies and consumption models drive the adoption of cloud computing, CopperEgg is addressing one of the biggest challenges IT organizations face in utilizing these services - lack of visibility and control over the infrastructure used to manage them.
RevealCloud provides split-second monitoring of the operating and performance metrics of cloud instances that support critical application services, enabling customers to accelerate time to market during the development phase, optimize deployments as they learn customer usage patterns, and identify early warning signals of service degradation.
"In a world where a few minutes of downtime can translate into millions of dollars in lost revenue, companies can no longer afford to stand by passively, wondering how their applications and services are performing in the cloud until they hear it from a customer," said Chad Bockius, CEO of Socialware. "RevealCloud provides an invaluable cloud performance monitoring solution for companies who use the cloud to deliver customer facing applications, host their own critical IT services, or need visibility across both environments simultaneously."