Altiscale’s offering lures sixteen backers


altiscaleSo far sixteen investors participated to Altiscale‘s $34 million non-brokered financing round. Financial backers bought, on November 12th, 80% of the offering or $27.32 million worth of equity. Based on the offering’s structure, the company has until November 2015 to raise an extra $6.68 million. It appears to be the first time the company is filling a security offering under a registration exemption.

Altiscale develops and markets a cloud service purpose-built to run Hadoop. The service is an on-demand, elastic solution on a pay-as-you-go basis. The company’s Data Cloud was created to provide organizations access to infrastructure “purpose-built” for Hadoop, as well as the operational expertise needed to execute complex Hadoop projects. By monitoring both the infrastructure and jobs, the company provides unparalleled levels of service for its customers. Investors include Sequoia Capital, General Catalyst and Accel Partners.

The company, headquartered in Palo Alto CA, is led by Raymond Stata (President). Altiscale elected to keep its revenues undisclosed.
The executive team includes Matteo Marchetta and Raymon Stata.
The board of directors includes Larry Bohn and William Coughran.

Offering recap
Status: First close
Company: Altiscale
Industry: Other Technology
Amount offered: $34 million
Amount placed: $27.32 million
First sale: 11-12-2014
Data as of: 11-26-2014

For more information visit www.XDATA.co

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