Tier 3 Adds $10M, Led by Intel Capital, to Expand Cloud Services
Cloud-computing service provider Tier 3 has raised another $10 million to expand its IT products for big businesses.
The new money first showed up in a filing with the SEC. A company spokeswoman says new investor Intel Capital led the Series B round, which also included investments from existing backers Madrona Venture Group and Ignition Capital. The new cash brings the total venture investment in Tier 3 to $18.5 million.
Tier 3 provides a range of networked IT services, including hosting, virtual private cloud computing, and on-demand cloud resources for applications.
The Bellevue, WA-based company, which has roughly 50 employees, is led by CEO Adam Wray, a veteran of Limelight Networks, Amazon, and Akamai. The company was founded in 2006 by technical chief Jared Wray (no relation to the CEO).
The company expects to use the new investment cash to grow and extend its products and services. Tier 3 recently announced a partnership with PEER 1, a leading hosting company, to expand offerings in the UK.