Financial statements prove that Brightcove powers the Discovery bar of popular photo-messaging app Snapchat. But the online video platform provider is not the only local company that can count a Silicon Valley tech giant among its customers. Another cloud firm located in Boston said it’s working with Pinterest, the social media site that lets users “pin” and gather images according to their interests.
“[Pinterest is] one of the biggest cloud spenders in the world,” said Larry Begley, CFO of CloudHealth Technologies, during an interview. “They were a relative early customer.”
Pinterest is not the only popular name among the over 1,300 clients of CloudHealth Technologies, which also includes Dow Jones, The Economist, Acquia and Amtrak, according to Begley. The company, which was founded in 2012 by a team of IT service management veterans, provides a cloud management platform for enterprises that is meant to help companies in any industry visualize, optimize and govern their cloud ecosystem.
“CloudHealth Technologies has taken advantage of what really is the biggest technology trend in twenty years, and that’s the movement of IT infrastructure from the data center to the cloud,” Begley explained. “Virtually every large enterprise today has a cloud strategy, and the only difference between those strategies is the pace at which they’re moving.”
Begley joined CloudHealth Technologies last year after investing in the company and sitting on its board as a VC at .406 Ventures. Asked about the competition, he said that in the early days of the company CloudHealth Technologies competed against Cloudability, which raised a $24 million Series B last year, and Cloudyn, which was recently acquired by Microsoft shortly after Hexadite.
In terms of funding, CloudHealth Technologies closed a $46 million Series D led by Kleiner Perkins in June, which someone may consider a clear clue of a potential IPO at some point in the future.
“You don’t go to raise a Series D round of this size unless you’re going long,” Begley commented, adding that the company now is all about scaling. CloudHealth Technologies, which currently has 190 employees, is looking to double in size by the end of the year.