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Denver-based Cloud Elements, a cloud API integration and aggregation service, announced today that thanks in part to Grotech Ventures, Icon Venture Partners, and Galvanize Ventures, it raised a $3.1 million Series A round. This achievement opens several doors for Cloud Elements, allowing them to continue doing what they do best: changing the face of the API economy.
In October 2012, Cloud Elements set out to fix a problem it was all too familiar with. Cloud Elements’ founders had built large-scale SaaS applications in the past, but often found themselves spending too much time integrating to other applications, rather than growing their core product. This realization led to the inception of Cloud Elements, which presented the opportunity to build a platform that would curb distractions.
Built with developers in mind, Cloud Elements works to simplify SaaS API integrations by allowing developers to integrate entire categories of service through just one API. It’s developer-centric approach allows for simpler usage, and can eliminate unnecessary time loss.
“Everyone has an API, and if they don’t now, they will in the future,” said CEO Mark Geene. “The market is ripe for a solution to make everything easier to manage.”
With new investors lending their support to Cloud Elements, the company is poised to reach more users and continue its robust growth. Cloud Elements is one of the fastest-growing companies in the cloud integration space, and doesn’t show any signs of slowing down. Before funders were brought to the table early this year, Cloud Elements was a self-funded company with 22 employees. But with the extra funds, Cloud Elements plans grow another 50 percent over the next six months.
“Investors are looking for us to do more of what we’re already doing, but faster,” said Geene. “The funding will allow us to increase employees, specifically to grow our sales and marketing front, as well as rapidly develop our Element Catalog.”
Cloud Elements hopes to have 50 Elements in its catalog by the year’s end.
“We believe that Cloud Elements has an excellent vision and great momentum in the industry,” said Jeff Hinck, General Partner at Icon Venture Partners. “Their leadership team has what it takes to scale the company quickly to keep up with their growing customer base.”
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