CloudShare Abandons Stealth Mode With $10M in VC Funding

CloudShare, formerly IT Structures, has announced it has received $10M in series B financing from Sequoia Capital, Gemini Capital, and Charles River Ventures (CRV). The company plans to use the investment to fund product development and expand its go-to-market capabilities.

CloudShare, a Menlo Park-based startup, has developed what could be revolutionary for solution providers and ISV’s selling software or appliances: A way for organizations to instantly deploy multiple, independent copies of their existing demo or training environments in the cloud. The company says its ability to raise a significant round of funding at a higher valuation than its previous round in a down economy reflects the stability of the company and the value it provides.

User benefits to CloudShare include faster sales cycles, rapid delivery of training, and increased channel visibility.

CloudShare customers, which include VMware, Cisco, SAP and more, have already delivered over one million VM demo, PoC (proof of concept) and training hours to date, representing over six quarters of consecutive double-digit usage growth for CloudShare. This early success demonstrates the practical, revenue-oriented, immediately useful nature of the CloudShare platform.

Notable functionality of CloudShare includes extensive workflow, hierarchical access and analytic monitoring capabilities, which provide sales and training owners with unprecedented visibility into customer use, direct sales, and channel activities. Additionally, CloudShare’s patented high-speed environment creation process lets users create new replicas in minutes, while its built-in collaborative whiteboarding, screensharing, and self-service capabilities enable corporate users to create and share their own prototypes and environments.

Founded in 2007, CloudShare is headquartered in Menlo Park, CA. The team is headed by Zvi Guterman, who previously cofounded Safend, an endpoint security company.

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