Gravitant Announces $10M Series B Round of Funding
New investment to fund expansion of sales and marketing as well as new product enhancements
AUSTIN, TEXAS — Oct 23, 2013 — Gravitant®, the leading software company in the
enterprise cloud brokerage and management market, today announced it has raised its
$10M Series B funding round led by new investor Corsa Ventures. Existing investor S3
Ventures also participated.
The latest financing will be used to expand the company’s sales and marketing to keep up
with rising 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 satisfy new customer segments.
Alex Gruzen, Managing Partner with Corsa Ventures, will join the Company’s Board of
Directors. Corsa, an investor in innovative enterprise technology, believes Gravitant is
poised to extend its leadership position in IT services brokerage, a solution space that
Gartner highlights as No. 4 on its 2014 Top 10 CIO priorities list.
“Gravitant has the potential to change the way Enterprise IT is done,” Gruzen said.
“While cloud computing shows much promise in transforming IT, CIOs are struggling
with cloud adoption and simply not getting the ROI they expect from their private and
public cloud investments. Gravitant’s cloudMatrix brokerage and management platform
optimizes agility and cost while maintaining control. The result is a vastly improved
cloud ROI.”
“Customer interest in cloud brokerage and management platforms is accelerating, and
this funding will help us take advantage of this rapidly growing market space,” said
Mohammed Farooq, co-founder and CEO of Gravitant. “We believe Gravitant will be the
next major software company in Austin, and we are very pleased to see the support from
Austin-based venture capitalists to help us realize this goal.”
“We are excited about the growth at Gravitant,” said Brian R. Smith, member of
Gravitant’s Board of Directors and Managing Director at S3 Ventures. “As more
enterprises and system integrators move to cloud computing, they need a platform that
can help them get the most out of cloud. Gravitant has a proven platform that provides
the optimal way to consume cloud services. We are pleased with Gravitant’s
accomplishments to date and are excited by its future potential.”
About Gravitant
Gravitant provides transformational cloud brokerage and management. We power the
longest running enterprise cloud brokerage in the industry and are trusted by some of
the largest enterprises in the country as their IT-as-a-Service platform. Gravitant’s
cloudMatrix makes it easy to select, procure, consume, and manage 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%.
About Corsa Ventures
Corsa Ventures is an early stage information technology venture capital firm focused on
opportunities in Texas and the Southwest. Based in Austin, Texas, our team members
have deep operational experience, access to global networks, and have led businesses
spanning from startup to global Fortune 50. We invest in companies that leverage the
cloud, big data, mobile, and social to disrupt established business models and revenue
streams.
About S3 Ventures
S3 Ventures is an earlier stage venture firm based in Austin, Texas with $170 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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