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ServiceMesh Fires It Up With $15 Million From Ignition PartnersFrank Artale Joins ServiceMesh Board of Directors (November 16, 2011)
SANTA MONICA, CA -- (Marketwire) -- 11/16/11 -- ServiceMesh, provider of the market-leading enterprise cloud platform for Global 2000 companies, today announced that it has completed a funding round of $15 million through Ignition Partners. Frank Artale, a partner at Ignition, will join the ServiceMesh board of directors. ServiceMesh will use the capital from this funding to accelerate its global market penetration and partnerships.
Founded by former Microsoft and McCaw Cellular executives, Ignition Partners focuses on emerging and future leaders in communications, Internet, software, and services across business and consumer targets. The firm boasts a pedigree team of partners including Artale, a former executive at Citrix, Microsoft, XenSource, and VERITAS; John Connors, former CIO and CTO at Microsoft; and Brad Silverberg, a founding partner and a former senior vice president and member of Microsoft's nine-member Executive Committee.
"Through ServiceMesh, we believe the promise of enterprise-scale cloud computing is finally becoming a reality," said Artale. "To successfully derive business value from these technologies, organizations must be able to provide flexible access to cloud environments under a unified SLA, governance and compliance framework. Further, organizations need a transparent mechanism for departmental chargebacks and usage analysis. The ServiceMesh platform is unique in its ability to deliver these capabilities and enable businesses to rapidly derive optimal benefit from a cloud deployment in a customizable yet tightly controlled environment. We see an immediate market opportunity for ServiceMesh in businesses of all sizes, including the largest enterprises and governments, because ServiceMesh is the only way to ensure that these organizations achieve significant business value from their cloud investment."
The ServiceMesh Agility Platform helps enterprise customers unlock the business value of cloud computing, including the empowerment of business units with self-service provisioning and management of standardized and fully governed IaaS, PaaS and SaaS offerings that improve business agility and lower operating costs. The Agility Platform enables companies to compress the time-to-delivery for enterprise applications, allowing them to move fast on fleeting business opportunities, while governing and securing a company's most sensitive applications and data across internal and external clouds, keeping the business safe.
"The investment community now recognizes that we are at the beginning of a massive and long-term transition to a cloud operating model," said Eric Pulier, CEO of ServiceMesh. "But enterprises must be able to turn raw technology into business value. The ServiceMesh Agility Platform provides the unique missing link by bringing business IT services directly to users while at the same time keeping the environment safe and controlled. With this round of funding, Ignition Partners has affirmed ServiceMesh as a leading player in this rapidly expanding market."
ServiceMesh provides the industry's leading enterprise cloud platform that enables Global 2000 clients to compress the time-to-delivery of enterprise business applications while governing and securing those applications and data across internal and external clouds. ServiceMesh also delivers professional advisory services and market-ready solution accelerators for common cloud usage scenarios.
Enterprise customers select ServiceMesh to design and implement IT strategies that offer game changing competitive advantages through a federation of internal and external IaaS, PaaS, SaaS, and cloud service providers. Customers use the Agility Platform to automate their plan, build, share, and run lifecycle with the security, governance, transparency, identity management, and policy control required by large enterprises. Some of the world's largest and most sophisticated companies in financial services, health care, and other IT-intensive industries rely on ServiceMesh to realize quantum improvements in business agility, lower operating costs, and enable new business and economic models that support their strategic business initiatives. To learn more, visit www.servicemesh.com.
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.
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