Friday, March 16, 2012
Appirio Raises $60 Million Led by General Atlantic
Appirio, a technology-enabled services provider that helps enterprises power their business with the cloud, today announced that it has closed $60 million in Series D funding led by global growth investor General Atlantic, with participation from existing investors Sequoia Capital and GGV Capital. Appirio plans to use the funds for investment and M&A to support global expansion of its consulting practice areas, as well as to build out the company's enabling cloud technology and acceleration of its successful crowdsourcing development platform -- CloudSpokes. "Appirio is defining what a next-generation technology services provider will be in the era dominated by cloud solutions," said Gary M. Reiner, operating partner, General Atlantic and former CIO, General Electric. "The company's unique combination of technology and crowdsourcing -- along with their cloud focus and experienced team -- have the potential to completely disrupt the $793 billion worldwide Global Systems Integrator market." "Twitter is redefining an industry and wants to work with service providers that are agile enough to evolve and define our business processes," said Adam Bain, president of global revenue, Twitter. "Appirio has become a trusted adviser and partner, helping us scale our operations and execute solutions as quickly as we can think of them."
at 10:06:00 PM