RackWare Raises $2.3M for Cloud-based Product Innovation, Awareness

RackWare this week said it has received $2.3 million in financing to fund the expansion of its sales and marketing operations, grow its geographic footprint and speed up product innovation.

Existing investors Kickstart Seed Fund and Osage Venture Partners led the venture financing round.

The Santa Clara, California-based company said the funds will be used to drive product development and accelerate awareness of its cloud-based management solution RackWare Management Module, which assists IT administrators with moving workloads between private, public or hybrid cloud environments.

RackWare also plans to use the funding to expand sales and marketing operations and expand its presence in the Europe, Middle East and Africa (EMEA) region.

“The new funding will allow us to provide additional support and joint marketing with our existing channel partners, as well as expand our channel presence both in North America and EMEA,” RackWare co-founder and CEO Sash Sunkara told Talkin’ Cloud.

Additional funding is not out of the question, Sunkara suggested: “Currently our financing needs have been met for the foreseeable future, however, we are always exploring new strategic opportunities.”

The company is working on new offerings for its channel partners and plans to announce several of them soon, she said.

“Our aim is to be an ideal vendor for channel partners as they help their customers really take advantage of what the cloud has to offer,” Sunkara said.

RackWare in July 2013 received $3 million in Series A funding. The new funding brings the company’s total amount raised to more than $7 million.

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