Startup CloudShare Scores $10M in VC Funding

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Despite the nagging world recession, there’s still venture capital money available for those companies with solid ideas, tight business plans, awareness of trends, and smart management.

A good example: CloudShare, formerly called IT Structures, came out of stealth mode Dec. 11 and got an early Christmas present in the form of $10 million in series B financing from Sequoia Capital, Gemini Capital, and Charles River Ventures.

The Menlo Park, Calif.-based startup has developed something that could be revolutionary for solution providers and ISVs who software or IT appliances: a way for organizations to instantly deploy multiple, independent copies of their existing demo or training environments in the cloud.

CloudShare customers include VMware, Cisco, SAP and others. The company already has delivered more than 1 million virtual machine demo, PoC (proof of concept) and training hours to date over the last 18 months.

New ways of storing data and delivering computing power from the ever-growing cloud seem to be coming along about once a day. What a great time to be starting up a new IT-based company, in that you don’t have to build or organize your own data center anymore!

For more information about CloudShare, go here.