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[August 21, 2014]
Luminal Completes Series B Financing, Led by NEA [Professional Services Close - Up]
(Professional Services Close - Up Via Acquire Media NewsEdge) Luminal has closed a $10M Series B financing round, led by New Enterprise Associates (NEA).
According to a release from the company, previous investors, including Core Capital and the Maryland Venture Fund, also participated in the round. This brings Luminal's total amount of financing to $13.8M.
"This investment led by NEA will allow us to grow our team and expand our beta customer base in advance of general availability of our product," said Josh Stella, founder and CEO of Luminal. "We're building solutions from first principles to tackle hard problems in computing, and the strong support we've received from NEA, Core Capital, Maryland Venture Fund, and our other investors helps make that possible." Luminal said it has developed a solution to automate the deployment and operations of cloud-based systems to bring a level of control, efficiency, and security previously unattainable in cloud computing. The product initially will be available on Amazon Web Services.
"Truly unlocking the cloud opportunity requires a fundamental shift in application deployment," said Harry Weller, General Partner at NEA. "The complexity of cloud deployments is only increasing with adoption, and there is an escalating need for a cheaper, more scalable way to manage it all. Luminal is developing a radically new approach to cloud architecture that leverages ephemeral components to allow for a higher degree of automation, efficiency and security." Luminal is a venture--backed software startup developing next- generation solutions for the operations and maintenance of cloud-- based systems.
New Enterprise Associates (NEA) is a venture capital firm focusing on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies.
Core Capital is a venture capital firm.
The Maryland Department of Business and Economic Development stimulates private investment and creates jobs.
More information: www.luminal.com www.nea.com www.core-capital.com www.ChooseMaryland.org ((Comments on this story may be sent to firstname.lastname@example.org)) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved.
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