Cloud Computing Startups Raise Big Money: UPDATE 9

Cloud Computing Startups Raise Big Money: UPDATE 9

This is the tenth in a continuing series on startups raising funding.  The series continued…Read the previous post/s

Today, there are two startups in focus – Nivio and Clio.

Nivio (http://us.nivio.com/)

Palo Alto, California-based cloud startup Nivio recently announced the raising of $21 million from Indian consumer products giant Videocon and American private equity firm AEC Partners. While AEC Partners has a record of tech investing, this is the first such move by Videocon. In addition to the potential of this company founded in 2004, there’s a family connection at play – Saurabh Dhoot, one of Nivio’s founders, is a nephew of Videocon chairman Venugopal Dhoot, one of the richest men in India with a personal fortune of $2 billion.

This round of funding values Nivio at $100 million, which in the words of co-founder Sachin Duggal, delivers “seven-fold returns to some of the angel investors.” The two co-founders were classmates at Imperial College, London, when they decided to launch their own venture. According to him, Nivio has been working on cloud computing for the past seven and half years. Its three offerings – nDrive, nDesktop, and nApps – are available in several different packages aimed at students, educators, and small businesses. The company provides cloud storage and syncing services through its nDrive, besides allowing the rent of programs through nApps. It has the stated aim of moving the desktop to the cloud.

Clio (http://www.goclio.com/)

Vancouver-headquartered cloud-based legal software company Clio recently announced the completion of a $6 million Series B funding round. Acton Capital Partners, a Munich-based growth equity fund and Point Nine Capital, an early-stage VC firm based in Berlin, participated in the round. The company plans to use the money to extend its product line and expand its footprint beyond the US which accounts for 95% of its revenue. Clio’s products allow its clients to track cases, bill clients, manage accounts, synchronize schedules and collaborate remotely, among other things.

Clio has a large target audience in mind – the 80% of the law firm market that consists of solo practitioners or small firms with limited IT budgets. This figure is according to the American Bar Association and blows away the common misconception that most lawyers are part of huge legal firms.

With few support staff and no IT departments, these professionals are often overwhelmed by the administrative side of their business. Clio is designed specifically for these lawyers. By moving their practice management to the cloud, we give these lawyers tools to manage their practices and build client relationships that are both more secure and more collaborative,” said Clio Founder and CEO Jack Newton.

The legal space is ripe for disruption. Although this industry has traditionally been regarded as slow to adopt technological changes, recent investments show it’s now ready to benefit from technological innovations like cloud computing,” said Boris Wetz of Acton Partners who will join Clio’s board as part of the deal.

By Sourya Biswas

sourya

Sourya Biswas is a former risk analyst who has worked with several financial organizations of international repute, besides being a freelance journalist with several articles published online. After 6 years of work, he has decided to pursue further studies at the University of Notre Dame, where he has completed his MBA. He holds a Bachelors in Engineering from the Indian Institute of Information Technology. He is also a member of high-IQ organizations Mensa and Triple Nine Society and has been a prolific writer to CloudTweaks over the years... http://www.cloudtweaks.com/author/sourya/

Sorry, comments are closed for this post.

Comics

At CloudTweaks, we're plugged into the cloud, the internet of things and all that the web has to offer. From wearable technology, to mobile computing, cloud computing and big data, CloudTweaks is your source for updates and news on the most innovative technology.

Popular

Top Viral Impact

Five Signs The Internet of Things Is About To Explode

Five Signs The Internet of Things Is About To Explode

The Internet of Things Is About To Explode By 2020, Gartner estimates that the Internet of Things (IoT) will generate incremental revenue exceeding $300 billion worldwide. It’s an astoundingly large figure given that the sector barely existed three years ago. We are now rapidly evolving toward a world in which just about everything will become…

The Education Revolution: Cloud In The Classroom

The Education Revolution: Cloud In The Classroom

The Education Revolution: Cloud In The Classroom With the back-to-school season now upon us, parents, students and teachers everywhere are once again struggling with the perpetual challenge of making kids job-ready in a high-speed and fast-changing environment. There is little doubt in anyone’s mind that information technology plays a central role in all areas of life…

Cloud Infographic: Cloud Computing Growth

Cloud Infographic: Cloud Computing Growth

An excellent infographic provided by AwesomeCloud which predicts a continued high level of growth in the cloud computing industry. Potentially staggering numbers for Public Cloud IT Services of $100 Billion by 2016. Infographic Source: AwesomeCloud About Latest Posts souryaSourya Biswas is a former risk analyst who has worked with several financial organizations of international repute, besides being a…

Are Cloud Servers The Right Choice For Your Business?

Are Cloud Servers The Right Choice For Your Business?

Cloud servers offer power, flexibility, reliability, and client friendly hosting for small and medium businesses that have outgrown shared hosting. New business hosting clients are bombarded with an incredible diversity of different choices for their site’s hosting. It can be a challenge to negotiate the range of platforms and the marketing hype that many hosting…

Forrester Releases Its “15 Emerging Technologies To Watch Before 2020” Report

Forrester Releases Its “15 Emerging Technologies To Watch Before 2020” Report

15 Emerging Technologies To Watch Before 2020 The cloud, big data, the internet of things, and wearable technology have all featured heavily in Forrester’s latest list of fifteen technologies to watch before 2020. It is becoming a reality for businesses that they need to adapt and change to an increasingly technologically-minded customer base. Traditional marketing…

Featured Sponsors

Salesforce Service Cloud: Air Traffic Control For Your Customer

Salesforce Service Cloud: Air Traffic Control For Your Customer

Salesforce Service Cloud One of the greatest benefits of the increasingly reliable and ubiquitous state of cloud technology is the removal of business silos and the consolidation of information flow, both in-house and on the road. This is of particular importance to the many different types of professionals whose work involves customer relationship management (CRM).…

2015 Advertising Opportunities - Find Out More!

Cloud Logo Sponsors

hp Logo CityCloud-PoweredByOpenstack-Bluesquare_logo_100x100-01
cisco_logo_100x100 vmware citrix100

Established in 2009, CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

Contact

CloudTweaks Media
Phone: 1 (212) 763-0021

Join Our Newsletter