CloudShare Raises $10 Million in Cloud Test Funding

CloudShare has announced the completion of a $10 million round of funding, led by Globespan Capital Partners, with participation by existing investors Sequoia Capital, Charles River Ventures and Gemini Israel Funds. The company plans to use the funds to expand sales efforts for the eponymous CloudShare SharePoint application demonstration, test and training cloud-on-demand solution.

According to the company’s press release, the 6-year-old CloudShare is currently standing at $26 million of VC funding total. CloudShare’s business model is based on the namesake tool’s ability to throw any infrastructure into the cloud, saving on demonstration and test costs. And its Microsoft SharePoint farms on demand aim to help ISVs and enterprises with development. The company claims 50,000 users worldwide.

This round of funding isn’t the first time CloudShare has caught TalkinCloud’s interest: In late 2010, the company named former Postini CEO Shinya Akamine to its board of directors. And back in February, the company signed on AutoTask veteran Guri Stark as its new CEO. And speaking of executive shakeups, this round of capital also sees Globespan Capital Partners Managing Director Dave Fachetti joining CloudShare’s board.

Here’s what Fachetti had to say about CloudShare’s business value in a prepared statement:

We’ll be watching closely for more signs of CloudShare’s progress, so stay tuned.

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