StackIQ Raises $6M for Web-based IT Management Technology

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San Diego-based StackIQ, which provides Web-based technology for managing highly distributed applications for “Big Data” and cloud computing, says today it has raised $6 million in a Series B round of funding.

The capital infusion will be used to expand StackIQ’s operations, including sales and marketing for cluster management software that helps to automate the operation of large-scale networks with tens, hundreds, or thousands of computer servers. A spokesman declined to disclose the current number of employees, citing competitive reasons.

In a statement this morning, StackIQ says new investors in the round include Grayhawk Capital, Keshif Ventures, the DLA Piper law firm, and OurCrowd, the online crowdfunding firm based in Jerusalem.

As we reported earlier this year, StackIQ was the first San Diego company to raise capital using OurCrowd, which provides an online platform that enables accredited individual investors to make pooled investments. The crowdfunding campaign ultimately raised slightly more than $1.2 million, according to a regulatory filing in June.

Including the Series B round, the company has raised a total of $10.5 million since it was founded in 2006, according to John Oh, who recently joined StackIQ as vice president of marketing. Existing investors Anthem Venture Partners and Avalon Ventures also participated in the latest round.

StackIQ says several unnamed Fortune 100 companies became customers this year, including “one of the world’s largest communications & media companies, a top 2 U.S. wireless carrier, major automobile manufacturer, and leading financial services companies.”

Author: Bruce V. Bigelow

In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University. Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.