|[March 09, 2011]
Tier 3 Announces $8.5 Million Series A Funding from Ignition Capital and Madrona Venture Group
SEATTLE --(Business Wire)--
Tier 3, the enterprise platform-as-a-service (PaaS) company, today
announced $8.5 million in Series A funding from Ignition Capital and
Madrona Venture Group. This funding, the company's first, will
accelerate the expansion of Tier 3's service portfolio into new markets.
As part of the funding, Tier 3 announced that John Connors from Ignition
and Matt McIlwain from Madrona will join the company's Board of
Founded in 2006, Tier 3 provides Agile (News - Alert) Infrastructure Services for
almost 100 customers across consulting, e-commerce, SaaS and e-discovery
industries, serving customers such as Slalom Consulting, Exterro and
Microsoft (News - Alert). The company brings together traditional managed enterprise
platform services with the on-demand, high availability of "cloud"
outsourced infrastructure. Gartner (News - Alert) Group predicts that by 2014, up to
33% of all new server-side Web application software will be software
services and applications created and deployed within a cloud-based
PaaS, and executed in support of an enterprise's production processes.
"Tier 3 represents true disruptive innovation in the enterprise
platform-as-as-service marketplace. The entire management team has a
clear vision for providing a mission-critical platform for driving
alignment with corporaterevenue owners and their IT departments, and we
are pleased to be part of the next phase of them realizing that vision,"
said John Connors, Partner, Ignition Partners.
"Enterprises are starting to use cloud solutions for business critical
applications and Tier 3 has clearly emerged as the leader in the
enterprise PaaS market," said Matt McIlwain, Managing Director, Madrona
Venture Group. "As enterprises rapidly embrace the compelling
operational and economic benefits of the next generation of IT services,
we look forward to helping the Tier 3 team meet their evolving needs."
Also today, Tier 3 announced that Slalom Consulting, a national business
and consulting services company, is in the process of migrating their
entire production and back office environments to the Tier 3 Agile
Infrastructure services platform.
"In Tier 3 we have a partner who is applying a disruptive element to the
enterprise IT market space by providing a world-class enterprise
platform that allows us to leverage the best of the clouds' flexibility
and cost effectiveness with the security, compliance, SLAs and service
we have come to expect and need for our production environment. We are
excited to be leveraging Tier 3 Enterprise PaaS for our growing, mission
critical business needs," Michele Bleser, Director of Technology,
With standards based, optimized infrastructure for running mission
critical applications over IP, Tier 3 is uniquely positioned to
capitalize on the migration of traditional IT and data center services
to the cloud.
"We are pleased to have John Connors and Matt McIlwain join our Board of
Directors, and to have the partnership of the Ignition and Madrona teams
as we expand our service offering in the marketplace," said Adam Wray,
chief executive officer, Tier 3.
About Tier 3
Tier 3 provides a mission critical enterprise platform that helps align
corporate revenue owners with their IT departments. The company's Web
AI, Autoscale, Dynamic Allocation, Dynamic IO and Network 4.0 services
work together to automate best practices, remove the burden of physical
hardware, and deploy optimized business environments within the cloud.
For more information, visit www.Tier3.com.
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