CloudOn raises $7.7 Million in Series A of Funding for Mobile Productivity Applications

CloudOn, the company based in Palo Alto, California, has recently arrived at the end of the discussions for the first round of funding which brought the company an amount of $7.7 million, announced the SEC. The company specializes in providing access to the productivity and collaboration tools needed by customers for the devices they are using. The company has been formally known as AppToU, a company which provided high-quality solutions for all type of mobile devices.

According to the marketing materials released by the company, CloudOn is “creating a mobile, enterprise, cloud-based workspace” in order to find solutions as to help workers increase their productivity and collaborations. This probably means that the company is now developing applications which can be used on smart phones and tablets which are going to be destined to the business and enterprise market.

The company is not yet largely known on the markets. Beside its modest website and its Facebook and Twitter accounts, which only provide little information about the activity of the firm, one cannot easily know more about the activity of the company and its future projects. There are still lots to do in the marketing field for the company to be able to become successful, but we are hoping that part of the amount raised in venture capital is going to be used in order to develop these aspects as well.

The company’s CEO’s name is Milind Gadekar, an entrepreneur who has previously worked for Cisco. While at Cisco, he has been one of the marketing directors for a period of five years. One of the other members of the team at CloudOn is Meir Morgenstern, who is the company’s co-founder and vice president. Meir Morgenstern has previously been the system architecture manager at Cisco for five years. Shuki Binyamin is also a part of the team at CloudOn, where he works as the CTO, also being one of the co-founders of the company. Previously, Shuki Binyamin has led a video and design consulting company for a period of almost five years.

As far as we could find out, the money raised in this series A funding round come from Rembrandt Venture Partners and Foundation Capital. During the days when the company was known as AppToU, it has also managed to raise an amount of $1.8 million in equity and debt funding. Foundation Capital also contributed in that funding round which took place in the month of October 2010.