BitTitan helps IT providers and other companies known as “managed-services providers” migrate their business customers to various cloud services.
Cloud-services company BitTitan reeled in $15 million in venture-capital financing Thursday, a first for the Kirkland company, which has been self-funded for nine years.
San Diego-based TVC Capital, a venture-capital company, led what it called its largest Series A financing round ever. San Francisco-based Tao Capital Partners also participated.
BitTitan was founded by former Microsoftie Geeman Yip, who first started to see cloud technology emerge at Microsoft.
The company helps IT providers and other companies known as “managed-services providers” migrate their business customers to various cloud services.
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Cloud technology has been the buzz for years, but many companies are hesitant or struggling to adopt various services, Yip said. BitTitan’s technology aims to make the switch to cloud services, ranging from Microsoft Azure to Amazon’s AWS to Dropbox, fast and simple.
“It is rare for a bootstrapped company to have achieved BitTitan’s degree of growth, and we regard this as a testament to Geeman’s fearless leadership and the exceptional management team he assembled,” TVC managing partner Steve Hamerslag said in a statement. Hamerslag will join BitTitan’s board.
The business is booming, and accepting outside funding will allow it to grow faster, Yip said. The funding will be used to grow sales and marketing teams as the company continues to add customers.
BitTitan has about 200 employees, Yip said, and plans to add about 100 more within the next year.