Systems & Info Management Claim 61% of IT Services Investments
April 26, 2012
SingleHop, an IaaS and cloud computing provider, has secured a $27.5 million Series A round led by Battery Ventures, not too shabby for the company's first ever institutional financing. Battery general partner Dave Tabors and vice president Morad Elhafed will join SingleHop co-founders Dan Ushman and Zak Boca on the company's board of directors.
Since the beginning of 2011, VC investors have invested in 57 companies primarily involved in the IT Services industry, according to the PitchBook Platform. Financings of companies that specialize in Systems & Information Management have accounted for the majority of these deals, with over 61% of the total deal flow. Consulting & Outsourcing composes 27% of IT Services deals. Cloud computing expert Joyent collected the biggest VC round for a Systems & Information Management company, racking up $85 million in January of this year.