Skytap Garners $6,450,000 Series C Financing

  • Feed Type
  • Date
  • Company Name
  • Mailing Address
    710 2nd Avenue Seattle, WA 98104
  • Company Description
    Skytap is the leading provider of cloud-based virtualization solutions available as on-demand services over the Web. Virtualization is poised to become the defining technology of the 21st century and Skytap’s goal is to make serving up virtual machines over the internet as ubiquitous as delivering html to a browser.
  • Website
  • Transaction Type
    Venture Equity
  • Transaction Amount
  • Transaction Round
    Series C
  • Proceeds Purposes
    To fuel our momentum and drive our next phase of growth, we’ll use this capital to support the development of Skytap’s channel program, and accelerate our go-to-market strategy in response to the increasing global customer demand we’re experiencing. We will also use the funding to continue our investment in developing a passionate team that thrives on seeing their efforts quickly answer real customer demand. This means accelerated hiring as we plan to increase our workforce by an additional 30 percent in the coming year across marketing, field sales and engineering teams.
  • M&A Terms
  • Venture Investor
    OpenView Venture Partners
  • Venture Investor
    Madrona Venture Group
  • Venture Investor
    Ignition Partners
  • Venture Investor
    Washington Research Foundation

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