Brier Dudley's Blog
Brier Dudley offers a critical look at technology and business issues affecting the Northwest.
E-mail Brier|
206.515.5687
|
Follow Brier on Twitter|
Microsoft Pri0 blog|
Subscribe | Blog Home
March 16, 2009 12:00 AM
Seattle cloud venture Skytap raises another $7 million
Posted by Brier Dudley
Apparently there's still financing to be had - if you're a promising cloud-computing startup with more than 50 customers.
That's the case with Skytap, a Pioneer Square company commercializing University of Washington research. Today it's announcing that it received $7 million in its second round of funding, adding to $6 million raised in 2007.
Adding to the pot are Madrona Venture Group, Ignition Partners and Washington Research Foundation.
Skytap provides cloud-based "virtual labs" for software projects, using an on-demand, pay-as-you-go approach.
Chief Executive Scott Roza said the company should grow to more than 30 people by the end of the year, up from about 20 now.
It's not as easy as you'd think to hire good people in the current environment, Roza said, explaining top candidates leaving startups are still finding good jobs and those at big companies are reluctant to give up their job security.
"People always say this has got to be a great mraket to hire in,'' he said. "I actually believe it's a challenging market still to hire in."
Roza said the new funding is evidence that Skytap is among the startups that venture investors have deemed likely to succeed.
"We're all very bullish about our prospects, our ability to create more capital and create more value with that,'' he said.
In the funding announcement, Madrona Managing Director Matt McIlwain said "Skytap has a compelling offering that is well positioned in a growing, high potential market."
Ignition partner Brad Silverberg concurred.
"Since Skytap has been in the market they have met or exceeded every customer, bookings and revenue goal and they are off to a great start in 2009,'' he said in the release.

nwjobs

Post a comment

Michelle Goodman blogs about work/life balance.
How to tell your office you're gravely ill
Post a comment
nwautos

Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment

- 'The Road' takes Viggo Mortensen to Mount St. Helens and Astoria, Ore.
- Tugboat sinks at Seattle waterfront pier
- Child-support error costs nearly $21,000
- Craigslist adoption ad: A plea by young mother-to-be? A scam?
- Chase shrugs off loss of CD investors
- Vikings easily beat the Seahawks
- Denny Triangle gains skyline, but tenants slow to come
- Snow piles up on Cascade slopes
- Woman stabbed by stranger in North Seattle
- Husky Men's Basketball Blog | Saturday's Pac-10 games in review
- Vikings easily beat the Seahawks
136 - Child-support error costs nearly $21,000
129 - Palin excitement builds in Tri-Cities
124 - Tight Senate vote launches health care over hurdle
122 - Cutting through breast-cancer confusion
90 - Prosecutor requests life in prison for Amanda Knox
90 - Historic health care bill clears Senate hurdle
88 - Game thread
70 - New York terror trials will restore faith in rule of law
65 - Chase shrugs off loss of CD investors
54
- 'The Road' takes Viggo Mortensen to Mount St. Helens and Astoria, Ore.
- Child-support error costs nearly $21,000
- It's possible to recover a life lost to hoarding
- Washington state wines make annual best-of list
- Banff: powder, peaks & purity
- Chase shrugs off loss of CD investors
- Protect yourself from baggage loss
- Rediscovering Moab, 'the most beautiful place on Earth'
- Denny Triangle gains skyline, but tenants slow to come
- Northwest Living | On Whidbey, a unified home from multiple recycled parts

May
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
| 1 | 2 | |||||
| 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 17 | 18 | 19 | 20 | 21 | 22 | 23 |
| 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| 31 |

Video
Demo of the Week: TeachStreet.com
Share your thoughts!
Gadgets and games | Fun stuff I've written about lately includes Apple's iPhone, Hewlett-Packard's HDX laptop and Microsoft's Halo3. Also on the radar are new digital video boxes such as the Tivo HD and the Vudu.






