2nd Watch Nabs Madrona Backing

Seattle, Washington-based 2nd Watch, a cloud-based provider of IT applications for enterprise clients, is taking a $4.2 million funding round led by Madrona Venture Group. Other private backers also participated in the funding round.

PRESS RELEASE:

Cloud Solutions Company, 2nd Watch, Secures Venture Funding Led by Madrona Venture Group
Rapidly Growing Cloud Software and Services Company and Amazon Web Services Premier Partner Lands $4.2 Million
SEATTLE, WA–(Marketwire – Dec 21, 2012) – 2nd Watch, Inc. today announced that it has closed a $4.2 million funding round led by Madrona Venture Group, with participation from other private investors. 2nd Watch enables enterprises to save hundreds of thousands of dollars by migrating existing and emerging IT applications and processes to take advantage of secure public clouds. An Amazon Web Services Premier Partner, 2nd Watch provides the cost of ownership tools referenced daily by Amazon Web Services customers and recently launched a new billing application, 2W Insight. The funding will be used to drive continued product innovation, business and market expansion.
“The public cloud, led by Amazon Web Services, is creating a dramatic shift in commercial computing and IT, but businesses need solutions partners to fully leverage the cloud,” said Matt McIlwain, Managing Director, Madrona Venture Group. “2nd Watch is a clear leader on delivering solutions fitted to where enterprise customers are today and where they are going in the future with cloud adoption.” As part of the funding, McIlwain has joined the 2nd Watch board of directors.
More than ever before businesses are looking to cloud solutions to address everything from basic computing to data warehousing, but companies are increasingly challenged to drive value from the cloud in a timely, efficient manner. For enterprises, leveraging the cloud can decrease risk and drastically reduce cost. 2nd Watch is at the forefront of helping enterprises navigate this landscape through a unique combination of software, services and analytics that make adopting and leveraging the cloud fast and simple.
A cloud-first business and led by industry veterans, 2nd Watch delivers tremendous efficiency to its enterprise clients by shifting time-proven systems to the cloud. The value the company consistently delivers is reflected by rapid growth and customer testimonials. 2nd Watch customers have proven that through innovative, efficient implementation of cloud solutions, profitable outcomes result almost immediately.
“This round of funding continues to validate our strategy to bring Cloud Services to the mass market,” stated Kris Bliesner, CEO and co-founder of 2nd Watch. “We are very excited to partner with Madrona on our next level of growth. The cost high, value poor way of managing IT is over — it’s time for technology to work for you as a business, not the other way around.”
About 2nd Watch
2nd Watch, Inc. offers a unique combination of software, services and analytics to make leveraging the cloud simple. Our operational management tools and expert guidance allow mid-size and enterprise companies to operate in the cloud more efficiently, decrease risk and increase profitability. An Amazon Web Services Premier Consulting Partner, Microsoft Cloud Champion and Cloud Accelerate partner, the company is based in Seattle Washington. For more information www.2ndwatch.com
About Madrona Venture Group
Madrona Venture Group (www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region’s most successful technology ventures. The firm invests across the information technology spectrum, including consumer Internet, commercial software and services, digital media and advertising, networking and infrastructure, and wireless. Madrona currently manages nearly $1 billion and was an early investor in companies such as Amazon.com, Isilon Systems, World Wide Packets, iConclude, Farecast.com and ShareBuilder.
Amazon Web Services, the “Powered by Amazon Web Services” logo, Amazon S3, Amazon EC2, Amazon RDS, Amazon SimpleDB, Amazon SQS, Amazon FPS and Amazon Relational Database Service are trademarks of Amazon.com, Inc. or its affiliates in the United States and/or other countries.

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