Seattle-based Tier 3, which provides an enterprise platform-as-a-service, has closed on $8.5 million in Series A funding. Ignition Capital and Madrona Venture Group provided the round, which will be used to expand the company’s technology. Ignition’s John Connors and Madrona’s Matt McIlwain will join the company’s board.
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 Directors.
Founded in 2006, Tier 3 provides Agile Infrastructure Services for almost 100 customers across consulting, e-commerce, SaaS and e-discovery industries, serving customers such as Slalom Consulting, Exterro and Microsoft. The company brings together traditional managed enterprise platform services with the on-demand, high availability of “cloud” outsourced infrastructure. Gartner 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 corporate revenue 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, Slalom, LLC.
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.