Thursday, September 18, 2014

Metacloud VC On Cisco Acquisition: "Epic Exit"

According to one of Pasadena-based Metacloud's venture capital backers, the acquisition of the cloud services provider by Cisco on Wednesday was an "epic exit". The statement came from Jason Lemkin, a venture capitalist at Storm Ventures. No terms of the deal have been announced, however, Metacloud had only raised around $25.0M in funding, from such investors as AME Cloud Ventures, Canaan Partners, Pelion Ventures, Silicon Valley Bank, and Storm Ventures. The exit is also a huge win for technology insider Sean Moriarty, who was Chairman of the company; Metacloud was started by Sean Lynch, former Sr. Vice President of Technology Operations at Ticketmaster Entertainment and Steve Curry, the former head of Yahoo's global storage operations. Metacloud helps enterprises implement private cloud technology.