Category Archives: Foundation Capital

Hyrbid cloud management vendor CliQr scores $20m from Polaris Partners, Google

CliQr has raised $20m in its third round of funding, which the vendor said will be used to bolster its international expansion

CliQr has raised $20m in its third round of funding, which the vendor said will be used to bolster its international expansion

CliQr, a provider of hybrid cloud management services, has secured $20m in series C funding in an investment round led by Polaris Partners with participation from Foundation Capital, Google Ventures and TransLink Capital.

It can be tricky managing workloads that sit on diverse public and private cloud platforms, within one pane of glass, and even more difficult making sure those workloads port over to different cloud platforms that are distributed to varying degrees.

That’s the space CliQr fills with its flagship software offering, Cloud Centre; the company says its offering is based on proprietary “app-centric” technologies that enable hybrid cloud workload lifecycle management without having to do any scripting or tweaking under the hood of the migrated apps.

The latest funding round, which brings the total amount secured by the company since its founding to $38m, will be used to bolster CliQr’s expansion globally.

“CliQr built its technology and reputation by listening to customers about their requirements for the cloud,” said Gaurav Manglik, chief executive officer and co-founder of CliQr.

“To meet our customers’ needs, we are delivering on our vision for unshackling applications from the complexity of ever-changing hybrid cloud environments. Our approach is validated by a strong product platform, enterprise customers, worldwide partners and top-tier investors. We’re ready to put this new investment to work by helping us expand globally to meet skyrocketing demand for our platform,” Manglik said.

Keating Capital Invests $5 Million in SilkRoad Technology

Image representing SilkRoad technology as depi...

Keating Capital, Inc. announced that it has made a $5 million investment in the Series C Convertible Preferred Stock round of SilkRoad Technology Holdings, Inc. (“SilkRoad”). Keating joined new investor, NTT Finance, and existing investors, including Azure Capital, Crosslink Capital, Foundation Capital and Tenaya Capital, in the Series C financing round which raised a total of $35 million.

Founded in 2003 and headquartered in Chicago, Illinois, SilkRoad is a global provider of cloud-based social talent management software, including tools for human resource management systems, recruiting, onboarding, learning, and performance management. SilkRoad’s comprehensive suite of human resource management solutions, the SilkRoad® Life Suite® product line, assists companies with managing the entire employee life cycle from pre-hire to retire.

SilkRoad was founded by technology entrepreneur Flip Filipowski, who previously started Platinum Technology, a database management company that completed an IPO and was subsequently sold to Computer Associates in 1999.

SilkRoad has recently been recognized with a bronze medal in the 2012 Stevie® Awards for the Innovation in Customer Service category and was named as a finalist in the 2012 CODiE™ Awards for excellence in its software solutions. The Stevie® Awards were created in 2002 to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide. The CODiE™ Awards recognize excellence in the business software, digital content and education technology industries.

“We believe software as a Service (or “SaaS”) businesses with growing streams of recurring revenue are valuable assets; SilkRoad is one such company operating in the human resources space,” stated Timothy J. Keating, CEO of Keating Capital. “Flip and his team understand from past experience what it takes to transform an idea into a growing private company and beyond. We are delighted to become a direct investor in SilkRoad as they progress the company to the next level,” added Mr. Keating.

SilkRoad is Keating Capital’s third new portfolio company investment in 2012. With this investment, Keating Capital has now made investments of $49.5 million in 17 portfolio companies, including $13.6 million invested year-to-date.