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Gravitant Announces $25M Round of Funding

2014-11-05
AUSTIN, TX, Leading software company in the enterprise cloud brokerage and management market expanded its Series B funding round by an additional $25M.
Gravitant, the leading software company in the enterprise cloud brokerage and management market, today announced it has expanded its Series B funding round by an additional $25M led by new investor Cielo Private Equity and existing investor S3 Ventures.

The latest financing will be used to expand the company's sales and marketing to address growing customer demand. In addition, the new investment will be used to extend the capabilities of Gravitant's award-winning cloud brokerage and multi-cloud management platform to target new customer segments.

Lisa Harris, Managing Partner of Cielo Private Equity, will join the Company's Board of Directors. Cielo Private Equity, an investor in high quality private companies, sees Gravitant as successfully extending its leadership position in IT services brokerage, one of the fastest growing spaces in the cloud computing market.

'We hear consistently from CIOs that the value of cloud is clear, with most business units using it,' Harris said. 'But at the same time, there is concern that almost two out of three of these business units are bypassing their IT departments. Gravitant provides an enterprise SaaS software suite that enables CIOs to deliver the agility demanded by business units but with the safeguards IT needs to maintain. Bottom line, Gravitant will enable organizations of all sizes to transform to the Cloud.'

'CIO and solution provider interest in cloud brokerage has accelerated over the past year, and this funding will help us take advantage of this growing demand,' said Mohammed Farooq, co-founder and CEO of Gravitant. 'We are very pleased to see the increased support from additional Austin-based venture capitalists as well as the continued commitment from our existing investors to help us build the next major enterprise software company in Austin.'

'We are excited about the growth at Gravitant and its increasing potential,' said Brian R. Smith, member of Gravitant's Board of Directors and Managing Director at S3 Ventures. 'Cloud computing is driving a fundamental shift in IT and Gravitant has a proven platform that provides the optimal way to consume cloud services.'

About Gravitant

Gravitant provides cloud brokerage and management software, delivered in a SaaS model. Gravitant's cloudMatrix makes it easy to plan, buy, manage and broker cloud services and enables users to move from a slow service-ticket model to an agile design-to-order model. The results: improved time-to-value from months to minutes and IT costs slashed by up to 50%. Gravitant's software is trusted by some of the largest enterprises in the country for their IT-as-a-Service platform.

About Cielo Private Equity

Cielo Private Equity invests in high quality private companies that provide capital preservation and current returns. We leverage our industry relationships and knowledge to capitalize on opportunities that exist in the marketplace. We partner with seasoned and accomplished management teams with proven track records in industries with strong long term fundamentals and positive cyclical timing.

About S3 Ventures

S3 Ventures is an early and expansion stage venture firm based in Austin, Texas with $185 million under management. S3 is focused on information technology solutions that solve large business problems. We also invest in medical devices that improve the human condition. We partner with the team and help focus methodically on what it takes to build a successful company.
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