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NEA leads $10m Series B for US cloud solutions firm

15 Aug 2014

usa-dollar-bills-1431130-mPrivate equity major New Enterprise Associates has led a $10m Series B funding round for cloud solutions company Luminal.

Previous venture capital investors including Core Capital and the Maryland Venture Fund also participated bringing total cash raised to $13.8m.

Luminal’s system aims to automate the use and operations of cloud-based systems to bring control, efficiency, and security to cloud computing. The product initially will be available on Amazon Web Services.

The Maryland company said the capital will be used to grow its team and expand its customer base.”

Core Capital managing director Pascal Luck said, “It’s gratifying to invest at the ground floor in a team that has been able to remain focused on its vision and make significant technical progress over the last year.

“Over this short period we have seen an increasing market need for Luminal’s product and the recent investment will allow the company to continue to attract world class talent to drive the technical and business functions of the company.”

NEA’s other recent investment into cloud-focused companies include re-upping in a $25m funding round for data protection company Bitglass at the beginning of August and co-leading a $21m funding round for VeloCloud Networks in June.

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