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KPCB leads $10m Series B financing for Cloud Physics

13 Aug 2013

horizon_cloud_170sqKleiner Perkins Caufield & Byers has led a $10m Series B financing round for cloud-based IT management company CloudPhysics.

Previous investors including The Mayfield Fund also renewed their commitment to the business by investing in the round, which Cloud Physics said would be used to fuel its growth and innovation.

Kleiner general partner Mike Abbott, who has joined the company board, said, “Big Data applied in a highly personalized manner has delivered huge, disruptive benefits in every industry — except IT.

“CloudPhysics is the first to apply it to IT, and they’re well positioned to disrupt this market. We are impressed with their leadership team, game-changing SaaS offering and the community they have built since coming out of stealth mode late last year.”

Mayfield Fund director Robin Vasan said, “The progress CloudPhysics has made over the last 18 months is phenomenal.

“CloudPhysics’ leadership team is exceptional, and they have done an excellent job growing the team and developing their intelligent operations management SaaS.”

Earlier this week online calorie counting app MyFitnessPal sealed an $18m Series A investment round from Kleiner and Accel Partners, among others.

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