StackIQ Raises $6M for Web-based IT Management Technology
San Diego-based StackIQ, which provides Web-based technology for managing highly distributed applications for “Big Data” and cloud computing, says today it has raised $6 million in a Series B round of funding.
The capital infusion will be used to expand StackIQ’s operations, including sales and marketing for cluster management software that helps to automate the operation of large-scale networks with tens, hundreds, or thousands of computer servers. A spokesman declined to disclose the current number of employees, citing competitive reasons.
In a statement this morning, StackIQ says new investors in the round include Grayhawk Capital, Keshif Ventures, the DLA Piper law firm, and OurCrowd, the online crowdfunding firm based in Jerusalem.
As we reported earlier this year, StackIQ was the first San Diego company to raise capital using OurCrowd, which provides an online platform that enables accredited individual investors to make pooled investments. The crowdfunding campaign ultimately raised slightly more than $1.2 million, according to a regulatory filing in June.
Including the Series B round, the company has raised a total of $10.5 million since it was founded in 2006, according to John Oh, who recently joined StackIQ as vice president of marketing. Existing investors Anthem Venture Partners and Avalon Ventures also participated in the latest round.
StackIQ says several unnamed Fortune 100 companies became customers this year, including “one of the world’s largest communications & media companies, a top 2 U.S. wireless carrier, major automobile manufacturer, and leading financial services companies.”