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Cloud9 Attains $5 Million in Funding
 TMCnet Contributing Editor
Cloud9 Analytics, a vendor of on-demand analytic applications for Salesforce.com ( News - Alert) customers, has announced that it closed a $5 million round of Series A funding. InterWest Partners led the round, with participation from Leapfrog Ventures.
The financing will enable the company to bring to market a family of on-demand applications in the burgeoning Sales Performance Management (SPM) category, company officials say.
The idea behind Cloud9 is for sales teams to learn from the past and predict the future to accelerate sales cycles, uncover new revenue opportunities, promote team selling, and improve revenue predictability -- "all without IT involvement," company officials say.
The company also announced that industry heavyweight Bruce Cleveland, a partner at InterWest Partners, has joined its board of directors. Directly prior to joining InterWest Partners, Cleveland held senior executive positions at CRM leader Siebel Systems ( News - Alert).
At InterWest, Cleveland concentrates on investments in the software and services sector with a focus on analytic applications and software as a service (SaaS ( News - Alert)). "This company will do for analytics what Salesforce has done for CRM" Cleveland said.
Earlier this month Right90, a vendor of on-demand sales forecasting for high-technology and manufacturing companies, announced that it has secured $12 million in Series B funding.
Cleveland, in his role as partner at InterWest, said Right90 "fulfills a critical need for high-technology manufacturing companies. Right90's forecasting products complement CRM, ERP and BI applications by enabling sales personnel to make detailed forecasts, while providing executives with the analytics they require."
Recently Right90 announced the availability of the Right90 Integration Server 1.0 for SAP ( News - Alert) products. The company also announced that the Right90 Integration Server has received the "Certified for SAP NetWeaver" qualification from SAP AG.
With the Right90 Integration Server Certified for SAP NetWeaver, customers can "directly and more efficiently integrate Right90 Profitability Management with the SAP R/3 and mySAP applications," company officials said.
David Sims is a contributing editor for TMCnet. To see more of his articles, please visit his columnist page
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