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Mountain View, CA, July 7, 2004 — Electric Cloud, the software build infrastructure company, today announced that it has secured $8 million in Series B funding. RRE Ventures led the round with existing investors Mayfield and U.S. Venture Partners also participating. Ken Ross, General Partner with RRE Ventures will also be joining the Electric Cloud board of directors.
Growing market acceptance of Electric Cloud's innovative build acceleration software and proven cost savings in the software development process led Electric Cloud to close the successful round at $8 million. Funds raised will be used to increase market penetration and broaden sales efforts.
"I've run three different software companies, and at all of them I knew that reducing software development, test and release cycles was vitally important to the success of these companies", said Ken Ross, General Partner, RRE Ventures. "When I saw how Electric Cloud had solved this universal problem for some of the world's best software organizations, I knew we had found a great investment opportunity."
"We are delighted to have RRE join the Electric Cloud team in this round of funding," said John Ousterhout, Electric Cloud CEO and President. "As customers happily realize that build times do not need to grow as project complexity grows, we are gaining great customer traction. We will use this round of financing to build out our sales and marketing teams and bring Electric Cloud to a greater number of leading technology organizations."
The Product
Electric Cloud 2.0, an enterprise software product, is for medium-to-large
software development teams unhappy with ever increasing build times
affecting time to market and overall efficiency. Electric Cloud
2.0 accelerates builds 10 - 20 times by distributing the software
build in parallel across scalable clusters of inexpensive industry-standard
servers. As an example, a large independent software vendor recently
cut its build times from 4.5 hours to 13 minutes with Electric Cloud.
Electric Cloud 2.0 is plug-compatible with existing Make-based
build infrastructures, so it can be rapidly deployed with little
or no change to existing tools or environments.
In order to ensure that parallel builds will not break, Electric Cloud has developed
a patent-pending dependency management system that captures perfect
dependency information by monitoring all files accessed during a
build.
Electric Cloud 2.0 is deployed in leading technology firms
in telecommunications, computer systems as well as with independent
software vendors.
About Electric Cloud
Electric Cloud is a software build infrastructure company pioneering technologies that improve the software development process. The Company was founded to addresses the build related frustrations, delays and resource scheduling nightmares that every software development team endures. Electric Cloud makes products that development teams use to reduce costs, shorten time-to-market, and improve quality and customer satisfaction. Electric Cloud 2.0 is deployed at several of Silicon Valley's most widely recognized technology companies. Based in Mountain View, California, Electric Cloud is funded by top-tier venture firms RRE Ventures, Mayfield and U.S. Venture Partners. For customer inquiries please contact Electric Cloud at (650) 968-2950 or www.electric-cloud.com.
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© 2003-2004 Electric Cloud, Inc. All rights reserved.
Electric Cloud and Electric Make are trademarks of Electric Cloud,
Inc. All other names are used for identification purposes only and
are trademarks or registered trademarks of their respective companies.
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