$5.5 Million in Funding led by Global Gateway Investment Group and Appointment of Satoshi Konno to Management Team to Accelerate Expansion of the Comprehensive Cloud Computing Platform
El Segundo, Calif.—July 14, 2010 — Morphlabs Inc., the cloud platform company powering enterprises and service providers, today announced it has secured a $5.5 million Series B round of financing. The round is led by Global Gateway Investment Group (G2iG) with new investor, Frontera Group LLC, joining existing investors CSK Venture Capital Co. Ltd. and AO Capital Partners Ltd. This round of institutional funding further reflects Morphlabs’ early market success in powering private and public clouds around the world; it will be used to accelerate expansion in the United States and Asia.
With the recent launch of its private cloud appliance, mCloud™ Controller, Morphlabs has seen considerable market traction with the only ready-for-production cloud solution for service providers and enterprises in both the United States and Japan. To meet increasing market demand, Morphlabs has appointed Satoshi Konno as President of Japan Operations. In this role, Konno will help drive the adoption of Morph-powered public and private clouds and accelerate the build-out of elastic computing services in Japan.
“Morphlabs is the first company to deliver a platform that makes cloud computing a commodity service that can be tapped into on-demand like a utility,” said Martin Lichauco, managing partner, Global Gateway Investment Group. “Morphlabs has proven the ability to execute by empowering Japan’s leading service providers to deliver public cloud services. After a successful U.S. launch in April, the mCloud product is already seeing an equally explosive entry into the U.S. market.”
“Today’s financing and support from our investors is a key milestone for Morphlabs, and furthers our commitment to delivering the innovative platform for powering enterprise and service provider clouds,” said Winston Damarillo, CEO, Morphlabs. “Coupled with the expertise of Satoshi Konno, we are now in the best position to help our global customers to automate provisioning resources for hosted applications.”
Said Konno: “For the cloud computing market to take off, there needs to be a viable marketplace of companies offering competitive services from which customers can select. I welcome the opportunity to work with Morphlabs as I strongly believe it is the company that will empower the thousands of service providers to deliver these services.”
About Morphlabs
Morphlabs (www.mor.ph) solutions enable enterprises and service providers to easily deploy automated and elastic computing infrastructures to support flexible and high performance applications and processes. Built on industry leading cloud standards enabling hybrid implementations of both public and private virtual resources, Morphlabs’ flagship product, mCloud™ series, is a comprehensive cloud computing platform providing the broadest range of reliable deployment options for cloud computing.
Morphlabs is headquartered in El Segundo, Calif., with operations in the Philippines and Japan. For more information, visit www.mor.ph or call (1) 310-437-8001.
About Martin Lichauco
Martin Lichauco
Managing Partner, Global Gateway Investment Group (G2IG)
Martin is Managing Partner at Global Gateway Investment Group (G2IG), a venture capital firm focused on global-facing Asian start-ups, with offices in the US and in the Philippines. Martin has more than 15 years of cross-border venture investing experience. Previously, he was Philippine Country Manager of Walden International (Walden), a leading global venture capital firm. He also served in a concurrent capacity covering Walden’s South/Southeast Asia operations both from head office in San Francisco/Silicon Valley and from the Philippines, identifying cross-border investment opportunities between the US and the region in the software, semiconductor, IT-enabled services and telecommunication industries. Martin started his venture capital career with Hambrecht & Quist Asia Pacific (H&QAP) where he served as Associate Director. Martin has invested in several companies that have been acquired by companies listed on NASDAQ and other regional bourses. He has also invested in companies that have gone thru successful IPOs. Martin sits in the board of several Philippine and US companies as a Director and/or Observer.
About Satoshi Konno
Satoshi Konno
Morphlabs K. K. (Japan) President
Morphlabs, Inc. (U.S.) Corporate Vice President
After graduating from Yokohama National University in Japan, Mr. Konno worked as a systems engineer to plan and develop growing IT infrastructure including large scale networks and databases.
He has been involved in Cloud related investments since the dawn of Cloud era in 2006 and found the promising future in the domain. He has joined Morphlabs Inc. and started its Japanese operations in 2010.
Coverage
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