Boulder-based Standing Cloud, a cloud management services company backed by Foundry Group, has been acquired by AppDirect.
San Francisco-based AppDirect, also a cloud company, will announce the deal Tuesday.
Standing Cloud employs 15 and has raised $10 million in funding. Financial terms of the acquisition weren’t disclosed, though AppDirect will also announce Tuesday that it has raised $9 million in Series B funding.
“Both AppDirect and Standing Cloud have worked to develop technologies that make the cloud easier to use,” said Daniel Saks, president and co-CEO of AppDirect, in a statement. “With this acquisition, we can join forces to accelerate the speed of innovation and move faster than ever before.”
Founded in 2009, Standing Cloud has deployed services with a range of cloud partners, including Amazon, Rackspace, Savvis, IBM, and others. Standing Cloud’s employees will stay in Boulder.
As part of the acquisition, AppDirect will become part of the Foundry Group’s portfolio of companies.
“At the Foundry Group, we’ve made it a point to invest in companies that drive long-term cycles of innovation. AppDirect fits that vision to a tee,” Foundry managing director Brad Feld said in a statement.
Concurrent to the acquisition, AppDirect has also closed its Series B round of funding, securing $9 million from existing investors.
Andy Vuong : 303-954-1209, avuong@denverpost.com or
