2nd Watch Gets a New Round of Funding
2nd Watch, a managed cloud services provider, has raised $19 million in Series D funding. This round was led by a company called Delta-v Capital, with participation from Madrona Venture Group, Columbia Capital and Top Tier Capital Partners.
This Seattle-based company is likely to use this money to scale its cloud operations, add a managed cloud operations in the state of North Carolina, and hire people in the departments of sales, software, operations and client management. A good chunk of this money is expected to go towards servicing its East Coast clients by establishing a dedicated center in the city of Raleigh.
2nd Watch is a premier partner of AWS that provides many managed cloud services in the ecosystem of AWS. It was founded in 2010 with a clear plan of designing, building and managing public clouds in the areas of Big Data Analytics, digital marketing, cloud analytics and more. Specifically, this company helps clients to modernize their IT infrastructure and services in the cloud.
In 2010, it was one of the first companies to join the AWS partner network. It was among the first audited and approved AWS managed service partners, and it even has the distinction of being the only cloud native partner to earn SOC2 compliance with a perfect score.
Over the years, it has added many prestigious clients like Conde Nast, Coca-Cola, Lenovo, Motorola and Yamaha. Due to this rapid growth, it has been adding more people to its rolls, with February alone seeing an addition of 20 more people. Overall, there about 160 employees so far, and the company is planning to grow to 200 people by the second half of 2017, to meet the demands of its growing client base.
In terms of its cloud presence, 2nd Watch claims that it has 400 enterprise workloads under management and more than 200,000 instances in its managed cloud services.
The success of this company once again brings out the growing cloud market, and the many opportunities it presents for small and medium companies to carve a niche for themselves. There are hundreds of companies today that offer specialized services, thereby making the cloud a more attractive and feasible option for many clients around the world.
The success rate of this company has helped it to raise $56 million so far, and going forward, it is only expected to have more business and a larger client base than now. According to the CEO of 2nd Watch, Doug Schneider, the firm doubled its revenues in 2016, and much of this can be attributed to the growing interest of companies across different sectors to take to the cloud. Almost every company today understands the power of cloud, and are sooner or later, expected to move to it.
Schneider opined that to meet the growing needs of its current and future clients, it needs more investment. Considering the astronomical growth this company has seen over the last year, funding should never be issue, as long as the money is used towards the right channels that will further propel growth.
It’s sure going to be an exciting ride for 2nd Watch.