Monday, January 26, 2009

CloudSwitch floats $7.4M in Series A fund

By Galen Moore

CloudSwitch Inc., a Bedford-based cloud computing startup operating in stealth mode, has raised $7.4 million in Series A capital from Matrix Partners and Atlas Venture, according to online reports.

The company, founded by Pirus Systems alum John Considine and former Netezza marketing head Ellen Rubin, was incubated in Matrix’ Waltham offices during 2008, Scott Kirsner reports on his blog, Innovation Economy.

According to the post, the company is waiting until the spring to reveal the product it is working on. The company’s website, cloudswitch.com, states only that the company is developing cloud computing software that will reduce costs and improve responsiveness.

David Skok represents Matrix on the board, and Alex Bichara holds Atlas’ seat, according to Kirsner’s report. Also holding board seats are parallel entrepreneur Andy Palmer, and Jit Saxena, the CEO of Netezza who in November announced he will step down Jan. 31.