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Corsa Ventures leads $10m Series B round for cloud brokerage business Gravitant

24 Oct 2013

cloudCorsa Ventures has made its first investment in brokerage and management software company Gravitant by leading a $10m Series B financing round.

Existing backer S3 Ventures also joined in the funding round, which the company said would go towards expanding sales and marketing to cope with rising customer demand.

Corsa managing partner, who will join the company’s board of directors, said, “Gravitant has the potential to change the way Enterprise IT is done.

“While cloud computing shows much promise in transforming IT, CIOs are struggling with cloud adoption and simply not getting the ROI they expect from their private and public cloud investments.

“Gravitant’s cloudMatrix brokerage and management platform optimizes agility and cost while maintaining control.

“The result is a vastly improved cloud ROI.”

Texas-based Corsa launched a $50m-targeting private equity fund in January last year.

The firm is run by founders and managing partners Alex Gruzen, who previously served as a senior vice president at hardware giant Dell, and former Raven Venture Partners’ general partner Brian Grigsby.

Its current investments are mobile payment platform Tabbedout, online wine tasting service Tastingroom.com and solar photovoltaic module maker HelioVolt according to the firm’s website.

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