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March 16, 2012

Appirio Raises $60M to Support Expansion



Appirio, an enterprise cloud provider that helps companies power their business using cloud-based technology, has raised $60 million in series D funding to support its global expansion.

The company previously raised around $17 million in funding, and the latest round was led by General Atlantic with participation from existing investors Sequoia Capital (News - Alert) and GGV Capital.

With the new war chest, Appirio plans to ramp up its mergers and acquisitions global expansion strategy and to boost its cloud consulting practice. In 2011, the company acquired four firms with a cloud focus: VMG; Infowelders (acquiredlastMarch); Saaspoint; and TRE3 Group.

The funding will also be used to build out the Appirio’s technology and accelerated its crowdsourcing development platform, CloudSpokes.

The company, which is based in San Mateo, Calif., increased its year-on-year revenue by over 80 percent in 2011 and expanded into Europe through its purchase of London-based Saaspoint.

CloudSpokes was developed last year, and now more than 35,000 developers are participating in the crowdsourcing community. In 2011, Appirio also developed the Cloud Enablement Suite (CES (News - Alert)), which is an suite of applications, assets and development capacity that supports enterprises’ cloud development.

“Enterprises are demanding to work with a trusted, agile cloud advisor and we fill that role,” said Chris Barbin, CEO of Appirio, inastatement. “Just as legacy software providers have struggled to add cloud to their legacy businesses, the global system integrators, including Accenture (News - Alert) and Deloitte, will be challenged to overcome their on-premise dependency and adapt to the rapidly changing market and customer demands related to the cloud.”

Last year, the company added almost 100 new customers worldwide. They include brands such as British Gas, eBay, Office Depot, PayPal, Pfizer, Rentokil, Stanford University, and Twitter (News - Alert).

“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, Twitter’s president of global revenue. “Appirio has become a trusted adviser and partner, helping us scale our operations and execute solutions as quickly as we can think of them.”






Edited by Jennifer Russell
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