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Cloud Platform Leader Heroku Secures $10 Million in FundingRuby Cloud Platform as a Service Provider Announces Closing of Series B Round Led by Ignition Partners, Former Microsoft CFO John Conners Joins Heroku Board (May 11, 2010)
SAN FRANCISCO, CA -- (Marketwire) -- 05/11/10 -- Heroku, the industry's leading Ruby cloud application platform-as-a-service (PaaS) provider, today announced that it has secured $10 million in Series B funding and that John Connors, General Partner with Ignition and former CFO/CIO of Microsoft Corporation, has joined the company's board of directors. The funding, led by Ignition and with participation by existing investors Redpoint Ventures, Baseline Ventures, and Harrison Metal Capital, will be used to accelerate Heroku's rapid growth and technology lead as customers shift more and more aggressively towards building, running, and managing apps in the cloud. Heroku was founded with seed money in 2007 from Y-Combinator fund.
"The consumerization of IT is one of the major themes of our investment strategy: trends like cloud computing are driving tremendous, transformative improvements in productivity, agility, efficiency, and reliability," said John Connors, General Partner with Ignition. "Heroku's team, approach, and product have given it a significant and increasing lead in the exploding cloud application platform market. This is demonstrated by the 60,000 apps running on Heroku's platform, the dramatic business value delivered to customers by those apps, the huge popularity of the company's add-on system, and vibrancy of the ecosystem building around Heroku. We see tremendous opportunity for companies of all sizes working with Heroku to build new applications or extend their enterprises to deliver value to customers."
Heroku provides a dramatically more productive way to build, run, and manage applications, using sophisticated runtime technology for cloud scalability and resiliency combined with tools and automation for developer productivity. Heroku's user base of tens of thousands of developers are creating powerful, innovative web applications used on the hottest new technology like the iPad, iPhone and on Twitter as well as in Global 2000 companies.
"By 2014, up to 33% of all new server-side Web application software will be software services and applications created and deployed within a cloud-based APaaS, and executed in support of an enterprise's processes."(1) writes Eric Knipp, senior research analyst, Gartner Research.
"We are excited to have John and Ignition join our team as we aggressively expand our business and, together with our customers and partners, fundamentally shift the status quo in application platforms and development," said Byron Sebastian, CEO Heroku. "Tens of thousands of developers are proving every day: the industry is ready for a change. Heroku and its partners are providing the productivity, openness, and resiliency in a cloud platform that represents a real, inexorable shift away from the old way of doing business to a new, more agile, service-based approach."
"When we founded Heroku, we set out to build a completely new way of deploying and running applications," said James Lindenbaum, co-founder of Heroku. "Today we are doing just that. The validation, expertise, and muscle provided by Ignition's participation is not only a huge boost to our vision, but also a real testament to the strength of the Ruby language and community. It reinforces our view that cloud application platforms and service-based approaches are having a fundamental, transformative impact on the industry at large."
Heroku is widely regarded as an industry pioneer and leader in cloud platforms. Founded in 2007, the company has set the standard in modern web app development for the cloud with its reliable, agile platform for rapid and trusted development, testing, and production deployment of innovative, customer-facing apps. Heroku provides provisionless, automated access to and management of key application platform components such as the Ruby runtime, Rack middleware, SQL databases, background processing, message queuing, in-memory caching, HTTP caching, and many other key architectural app components.
For more information about Heroku, please visit http://heroku.com.
(1) Eric Knipp and Yafim Natis, Gartner, "The Coming Enterprise Shift to an APaaS-Centric Web," September 3, 2010.
About Ignition Partners
Ignition Partners, (www.ignitionpartners.com) is a premier private investment group with offices in Bellevue, Washington and Shanghai, China.
Ignition Partners' affiliated family of funds includes Ignition Ventures and Ignition Growth Capital in the U.S. and Qiming Ventures in China. The investment group's three categories of funds -- early stage venture, growth capital and China ventures -- brings together an unparalleled combination of domain focus, functional expertise and global operational experience with partners from leadership positions at Microsoft, McCaw Cellular Communications, AT&T Wireless, Cisco, Starbucks and other industry leaders.
Heroku is a leading provider of cloud computing, offering a Ruby platform as a service focused on ease of use, automation, and reliability. Headquartered in San Francisco, CA, Heroku is a passionate and active supporter of Ruby technologies and cloud architecture. Heroku was designated a 'Best Products of 2009' by ReadWriteWeb. Heroku is funded by Y Combinator, Redpoint Ventures, Baseline Ventures,Harrison Metal Capital and Ignition Partners. Tens of thousands of developers worldwide have deployed over 60,000+ applications to Heroku. For more information, please visit http://heroku.com and http://blog.heroku.com or follow Heroku on Twitter at http://twitter.com/heroku.
Heroku disclaims any proprietary interest in the marks and names of others.
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