Gravitant Raises $10 Million in Venture Funding

gravitant-77514790Gravitant, which makes software for companies to manage their cloud services, announced Wednesday that it has received $10 million in Series B funding.
Corsa Ventures led the round and was joined by existing investor S3 Ventures.
The Austin-based company plans to use the money to expand its sales and marketing, to fulfill customer orders and to add more features to its cloud management platform.
In addition, Alex Gruzen with Corsa Ventures will join Gravitant’s board of directors.
“Gravitant has the potential to change the way Enterprise IT is done,” Gruzen said in a news statement. “While cloud computing shows much promise in transforming IT, CIOs are struggling with cloud adoption and simply not getting the ROI they expect from their private and public cloud investments. Gravitant’s cloudMatrix brokerage and management platform optimizes agility and cost while maintaining control. The result is a vastly improved cloud ROI.”
“Customer interest in cloud brokerage and management platforms is accelerating, and this funding will help us take advantage of this rapidly growing market space,” Mohammed Farooq, co-founder and CEO of Gravitant said in a news statement. “We believe Gravitant will be the next major software company in Austin, and we are very pleased to see the support from Austin-based venture capitalists to help us realize this goal.”

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