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CloudVelocity Nets 2nd Venture Capital Round

Wednesday, July 17, 2013 5:33:00 AM PDT | VentureDeal
Santa Clara, California  --  IT company CloudVelocity has received $13 million in its Series B round of institutional venture capital investment.

CloudVelocity has developed technology that saves enterprises time when migrating existing applications from traditional data centers into public clouds.

Third Point led the round, which also included Mayfield Fund and Pelion Venture Partners.

The company said it would use the funding proceeds to accelerate its growth initiatives.

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