GRAND RAPIDS — Blue Medora, a developer of software that analyzes cloud computing systems, Monday announced it had raised $4.6 million in Series A venture capital.
The round was led by the Ann Arbor technology venture fund Michigan eLab, with participation from current investors Start Garden, a Grand Rapids tech incubator, the Grand Rapids angel investor group Grand Angels, and other equity holders.
The investment brings Blue Medora’s total funding to $6 million. The company says the money will be used to grow engineering, sales and marketing teams to meet demand and accelerate new product development. Also, as part of the deal, Michigan eLab managing director Doug Neal will join Blue Medora’s board of directors.
Company officials say the financing continues its growth momentum so far in 2015. So far this year, the company says it has more than quadrupled its product sales since the same time in 2014, and grew its staff from fewer than 20 to nearly 50 software developers, quality assurance engineers, sales and marketing professionals. In addition to a recent hire, vice president of global sales Chris Noordyke, the company is planning to make other high-profile hires as it looks to expand its presence in North America, Europe and Asia.
“During the past year we have experienced a significant increase in growth and demand for our cloud systems management products,” said Nathan Owen, co-founder and CEO of Blue Medora. “Our Series A investment round will enable Blue Medora to continue helping organizations re-shape the way they aggregate, analyze and visualize their monitored data.”
Added Neal: “Blue Medora offers a great value proposition for administrators who are tasked with managing and monitoring complex hybrid cloud and virtualization-based application environments. Blue Medora has emerged as one of the market leaders in cloud systems and application performance management and we are excited to be working with them to establish long-term success.”
Headquartered in Grand Rapids, Blue Medora’s software ties together data from virtualized and cloud-based databases, applications, and services with the critical underlying compute, storage, and network infrastructure to create a unified view of the infrastructure. These capabilities are delivered as value-added product management packs for VMware’s vRealize Operations and Oracle Enterprise Manager Cloud Control platforms.
Blue Medora management packs enable administrator teams to work collaboratively on the infrastructure to avoid downtime, resolve performance problems and make predictive insights using advanced analytics. For more information, visit bluemedora.com.