Green Cloud Technologies Lands $5.6 Million Series C Equity Financing and Appoints New Board Member

Apr 3, 2013 | News

Greenville, SC ( – April 3, 2013 – Green Cloud Technologies, a IaaS Cloud solutions provider headquartered in Greenville, SC, has closed on $5.6 million in newly issued Series C equity. This round of financing was led by Millry Corporation and also supported by a new strategic investor and existing shareholders. Total company investment to date is $9.6 million. The additional financing will be used for accelerated market expansion, sales and marketing investments, and data center investments.

In addition to securing this latest round of funding, Green Cloud announced that Walter Alessandrini, has joined the company’s board of directors. Alessandrini previously served as chairman and CEO of Avanex, which he led through a highly successful initial public offering, and chairman and CEO of Ometric (acquired by a Fortune 100). He also served as president and CEO of both Pirelli Cable & Systems North America and Union Switch & Signal.

“We are excited about our follow-on investment in this exploding segment of the Cloud ecosystem,” added Annice Jordan, chief financial officer of Millry Corporation, Green Cloud’s largest investor. We look forward to the growth of Green Cloud as its employees concentrate on providing a best-in-market service offering.”

Green Cloud recently announced expansion plans into four new markets: South Florida, Greater Atlanta, the Gulf Coast and the Research Triangle region of North Carolina. The company is 100% dedicated to channel partner distribution and uses no direct sales force, a unique distribution model for the cloud industry. By partnering with local consultants, IT managed service providers, and PBX distributors, Green Cloud enables its partners to leverage the benefits of Cloud technologies without making the substantial investments necessary to deploy fully-redundant Cloud services.



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