Spanning Cloud Apps Obtains $6,000,000 Series B Financing

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=de4961df-585e-43f2-9528-b0a205af74bb&Preview=1
Date
3/21/2013
Company Name
Spanning Cloud Apps
Mailing Address
7600-B N Capital of Tx Hwy Austin, TX 78731
Company Description
Spanning Cloud Apps is a cloud-based application developer focused on backup solutions for today’s most widely adopted cloud-computing suites including Google Apps.
Website
http://www.spanning.com
Transaction Type
Venture Equity
Transaction Amount
$6,000,000
Transaction Round
Series B
Proceeds Purposes
This infusion of capital will allow us to accelerate the build-out of our direct sales team and reseller channel, while extending the product lead we’ve established over our competitors. It also provides us with an important strategic partner.
M&A Terms
Venture Investor
Undisclosed
Venture Investor
Foundry Group