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.

Join Our Newsletter

Receive updates each week on news, tips, events, comics and much more...

Can I Contribute To CloudTweaks?

Yes, much of our focus in 2015 will be on working with other influencers in a collaborative manner. If you're a technology influencer looking to collaborate long term with CloudTweaks – a globally recognized leader in cloud computing information – drop us an email with “tech influencer” in the subject line.

Please review the guidelines before applying.

Contributors

Cloud Infographic – Wearable Tech And Preventative Healthcare

Cloud Infographic – Wearable Tech And Preventative Healthcare

Wearable Tech And Preventative Healthcare There are so many exciting new opportunities available to utilize wearable technology in the future.  Areas such as nanotechnology disease monitoring, crowdfunding to wearable accessories are some excellent examples of the potential. Estimates vary, but appear to suggest that the market will produce between $14-50 Billion over the next few years. Included below

Ten Tips For Successful Business Intelligence Implementation

Ten Tips For Successful Business Intelligence Implementation

Ten Tips for Successful Business Intelligence Implementation The cost of Business Intelligence (BI) software goes far beyond the purchase price. Time spent researching, implementing, and maintaining your BI investment can snowball quickly and mistakes are often expensive. Your time is valuable – save it by learning from other businesses’ experiences. We’ve compiled the top ten

Knots And Cloud Service Providers

Knots And Cloud Service Providers

How Do These Two Compare? In Boy Scouts, I learned how to tie knots. The quickest knot you can tie is the slipknot. It’s very effective for connecting one thing to another via the rope you have. It was used in setting up tents, mooring boats to docks temporarily and lifting your food up into

Big Data

To Have and Have Not: Big Data Initiatives In Developing Countries

To Have and Have Not: Big Data Initiatives In Developing Countries

Big Data Initiatives In Developing Countries The poor of the developing countries are becoming increasingly connected, to the point where they too are part of the Big Data revolution that’s happening across the globe. It didn’t come with laptops, though, as some supposed it would. Whereas it costs a fortune to connect broadband to a

Big Data In Your Garden: Initiatives For Better Understanding Nature

Big Data In Your Garden: Initiatives For Better Understanding Nature

Big Data in Your Garden Big Data and IoT initiatives are springing up all across the globe, making cities, protesters–and just about everything else–smarter. However, thus far there’s been little attention paid to the interactions between these bizarre technologies and living things other than humans. Biology, that is, human biology is one field where Big

Who Holds the Key to the City: Big Data and City Management

Who Holds the Key to the City: Big Data and City Management

Big Data and City Management Cities like New York, Madrid, and especially Rio de Janeiro are augmented with Big Data-powered initiatives that range from combating crime with predictive analytics (New York & Madrid) to providing real-time data for improved management. Although Big Data is no panacea and is mainly used in conjunction with a greater

Internet of Things

Gartner Research – Homes In 2022 Will Contain Hundreds Of Smart Objects

Gartner Research – Homes In 2022 Will Contain Hundreds Of Smart Objects

How the Internet of Things is Saving Lives Just hearing the phrase ‘internet of things’ is enough to strike fear into the hearts of many elderly people. As the world’s economy shifts increasingly towards online-only, the oldest people among us often feel left behind, confused that the ‘way things used to be done’ – the

Where’s the Capital of the Internet of Things?

Where’s the Capital of the Internet of Things?

Where’s the Capital? We all know the capitals of fashion are London, New York and Paris, while the capital of film is Hollywood (or Bollywood!) – but what’s the new capital of the internet? Specifically, the internet of things? The answer – according to new research by Ozy – might surprise you. It’s not Tokyo, Seoul,

Aggregated News

Popular News Sources

Bits Blog: Coming of Age in Cloud Computing

Bits Blog: Coming of Age in Cloud Computing

Cloud computing has been criticized as undependable and tough to manage. A number of recent announcements suggest that some companies are trying to address the issue. Read the source article at NY Times About Latest Posts souryaSourya Biswas is a former risk analyst who has worked with several financial organizations of international repute, besides being

Bitcasa Partners With Hutchison Telecommunications Hong Kong

Bitcasa Partners With Hutchison Telecommunications Hong Kong

Bitcasa Partners With Hutchison Telecommunications Hong Kong 3 Hong Kong, the mobile operation of Hutchison Telecommunications Hong Kong Holdings Limited today announced the launch of 3 Super Cloud, a multi-platform cloud storage service, powered by Bitcasa, the … Read the source article at Yahoo Finance About Latest Posts souryaSourya Biswas is a former risk analyst who

It’s A Hybrid Cloud World: Are You Managing Your Hybrid State?

It’s A Hybrid Cloud World: Are You Managing Your Hybrid State?

Managing Your Hybrid State If your company is using cloud computing services today, it’s highly likely you are already in a hybrid cloud configuration. The key question is whether you are actively managing this reality. Whether your company uses Software-as-a-Service (SaaS) or deploys applications to a cloud platform, there is a high likelihood those services are