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VCs throwing gobs of money at cloud, security, mobile startups

Bob Brown | Sept. 11, 2013
Paydiant, CrowdStrike among those snagging big venture capital rounds of late.

* Datto, which sells a hybrid cloud-based backup, disaster recovery and continuity services through channel partners, has closed $25 million in growth equity financing led by General Catalyst Partners. The Norwalk, Conn., vendor says it plans to use the funds for international expansion, product development and enhanced services. This marks Datto's first funding since it started in 2007. Steve Herrod, former CTO of VMware and managing director at General Catalyst Partners, and Paul Sagan, executive vice chairman of Akamai Technologies, also join Datto's board.

*Log monitoring company Loggly announced last week that it has received a $10.5 million funding round from Cisco and others, bringing its total funding to nearly $21 million. Loggly, which competes with vendors such as Splunk, also just rolled out a new version of its cloud-based monitoring service.


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