Sphera Raises $13.5 Million in Second Round
Page 1 of 1
New York-based software firm Sphera Corporation has raised $13.5 million in a second round of funding led by Gemini Capital Ventures.
Jerusalem Venture Partners, Reuters Greenhouse Fund and CSK Venture Capital also participated in the funding round.
Sphera, which employs 70 people at locations in Silicon Alley, Washington D.C. Israel and the U.K, said the money would be used to further product development and expand marketing activities for its HostingDirector products.
The company said HostingDirector is a software platform that simplifies and automates Web hosting for e-commerce business operations. The software basically manages all the layers in the hosting market, from the site owner through to the network service providers.
By "wrapping" Web sites on the virtual dedicated server, the technology automatically adds new applications. This enables hosting companies to rapidly scale customers up from $30 a month to higher end packages, increasing their revenues.
"Sphera has already begun realizing revenues from sales of HostingDirector, as have our partners," said chief executive Tamar Naor.
"The capital raised from this second round of financing will be used to build on our initial success, further expand our competitive edge, and ensure that our products continue to lead the market in automated hosting operations for e-commerce."