Cloud Technology Partners (CTP), a cloud services and software company for enterprises moving to cloud, has successfully closed its Series C funding round. The funding round would support aggressive expansion plans both in the U.S. and abroad.
The company aims to provide its services to enterprises moving to AWS, Google, Microsoft and other leading cloud providers. From strategy to operations, CTP would accelerate end-to- end cloud adoption with the best implementation services, software and intellectual property available on the market. CTP’s comprehensive framework for cloud adoption and dedicated software development capabilities would help clients achieve business results faster, no matter where they are in their cloud transformation.
Existing investors Rackspace (NYSE: RAX), State Street Bank (NYSE: STT) and Pritzker Group Venture Capital participated in the financing. Scott Crenshaw, Senior Vice President Strategy and Product at Rackspace and Antoine Shagoury, Executive Vice President and CIO at State Street Bank, have joined the Cloud Technology Partners Board of Directors.
“We have experienced near triple-digit growth this year and our outlook for 2017 and beyond is equally strong. We are using this funding to support our rapid expansion while scaling our core offerings, go-to-market programs and global coverage,” said Chris Greendale, Founder and CEO, Cloud Technology Partners. “We are exceedingly pleased with the vote of confidence our investors, ecosystem partners, clients and employees have made in us as we continue to build a great cloud company.”
Specifically, the new funding will be focused in these four areas:
- Expanding the Cloud Adoption Program
Based on the best practices from hundreds of successful engagements, the Cloud Adoption Program would help clients safely accelerate their cloud application migration by bringing together the best technology, practices and learnings for enterprise-wide cloud adoption.
- Expanding CTP’s Digital Innovation Practice
“Our clients are turning to CTP to design and implement cloud-native software solutions leveraging the Internet of Things (IoT), Big Data, Machine Learning, Blockchain and other emerging technologies,” said John Treadway, Senior Vice President, Cloud Technology Partners. “We are already working on some of the world’s most advanced IoT initiatives and we will be using this round to continue to expand our IoT, software development and innovation capabilities.”
- Building CTP’s Managed Services Capabilities
This April, Rackspace and Cloud Technology Partners announced a strategic partnership to deliver professional and managed services for enterprises leveraging Amazon Web Services, Microsoft Azure and other cloud platforms.
- Expanding CTP’s Sales & Delivery Teams
“In order to meet unprecedented market demand, we are also using the C round to grow our sales and delivery teams both across the United States and Internationally,” said Bruce Coughlin, Executive Vice President, Cloud Technology Partners. “The market opportunity is staggering and we look forward to scaling globally to support our enterprise clients. This funding will allow us to invest properly in both sales and delivery, while also driving the innovation that our clients expect.”
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