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In only a year, prospects for Philly’s Cloudnexa are sunny

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In less than a year, Philadelphia's Cloudnexa has completed its first round of fundraising, generating $2.3 million in investments, signed multiple, multi-million-dollar contracts, created a workforce of 16 and has just moved into new corporate headquarters at the Philadelphia Navy Yard.
 
And been designated by Amazon Web Services as one of only 22 “premier consulting partners” for 2014.
 
Cloudnexa delivers cloud-management-as-a service through Amazon Web Services with its proprietary software platform. CEO Joel Davne, Bill Testa, MJ DiBerardino and Josh Resnick established the company in December 2012.
 
Davne attributes the company's strong growth to, among other factors, the growing acceptance of cloud computing and its wide application across market segments. “The value proposition is clear,” he says. “Do you want to purchase servers or save money on infrastructure? We save [clients] time and energy and we insure their success [with 24/7 customer service out of Philly.]”
 
So far, the public sector, notably federal government and higher education, is the biggest revenue driver for Cloudnexa, Davne says. Major contracts include a $250 million, four-year contract with the Army and others with the Department of Energy, the Department of Education, the University of Minnesota and, most recently, Carnegie Mellon University. Other market segments include large and mid-market private enterprise (“our bread and butter,” says Davne) and, recently, Internet service providers.
 
With its success in raising $2.3 million from sources including lead investor Milestone Venture Partners,  Gabriel Investments and Ben Franklin Technology Partners of Southeastern Pennsylvania, Davne anticipates expanding into global sales and doubling the Philadelphia-based workforce to 32 in 2014.
 
Source: Joel Davne, Cloudnexa
Writer: Elise Vider

BFTP of Southeastern PA, Higher Ed, Inventing the Future, News, Venture Capital

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