BOSTON – April 5, 2016 – CloudHealth Technologies, the leader in cloud service management, today announced the appointment of proven CFO, venture capitalist and entrepreneur Larry Begley as CloudHealth’s Chief Financial Officer.
Begley comes to CloudHealth from .406 Ventures, an early-stage venture capital firm that invests in innovative information technology and services companies. Begley, a co-founder of .406 Ventures, will join CloudHealth as its full-time CFO. Boston-based .406 Ventures participated in CloudHealth’s first two rounds of venture funding, and Begley has served on CloudHealth’s board of directors.
“Since moving to the venture side and co-founding .406, I have successfully resisted the temptation to return to the operating side, but I found the opportunity at CloudHealth Technologies to be irresistible,” Begley said. “I’ve had a close-up view of the company’s vision and execution as an investor. Now, I look forward to helping CloudHealth Technologies follow through on this rare chance to lead an entirely new market and change the way companies think about – and manage – the cloud.”
.406 Ventures recently closed its third venture fund, bringing its investment total to nearly $600 million. The three funds have focused on a variety of business areas including cloud tech, data/analytics, cybersecurity and healthcare IT.
“After helping to build and grow .406 Ventures for the past decade, Larry’s desire to jump back into an operating role created a perfect opportunity for him to join CloudHealth at a time of significant inflection in both the cloud services industry and within the company itself. My co-founder Liam Donohue and I are thrilled that Larry has joined CloudHealth Technologies. This company is one of our most exciting and we are delighted that Larry will be contributing directly to its success. We look forward to our continued relationship with him within the .406 Ventures portfolio family, “ said Maria Cirino, co-founder of .406 Ventures.
Prior to co-founding .406 Ventures, Begley worked nearly 30 years as a senior executive in start-up and scale technology and services companies. He has served on the board of directors of 17 companies, including five public and 12 venture-backed companies. He served as chief financial officer at CCBN.com, i-Cube and Razorfish, which purchased iCube for $1.8 billion. Begley also served as partner, CFO and treasurer of The Boston Consulting Group and held financial roles at PriceWaterhouseCoopers, The Foxboro Company, Data Resources Inc. and Softbridge Microsystems.
"CloudHealth Technologies and the cloud market are both growing exponentially,” said Dan Phillips, CEO and co-founder of CloudHealth Technologies. “We are the early leader in a market that will be the primary driver of IT spend over the next decade. Hiring someone of Larry’s caliber will enable us to scale quickly to achieve an IPO and be the leader in the largest IT opportunity we've seen in multiple decades. We are honored to have Larry join us."
About CloudHealth Technologies
CloudHealth Technologies gives organizations a new, more efficient way to visualize, optimize, and automate their cloud environments. CloudHealth’s Cloud Service Management platform integrates with services across the datacenter and cloud, giving enterprises, startups, and service providers access to a centralized hub of robust data analytics. Using a policy-driven approach aligned to business processes, customers leverage CloudHealth to drive cost savings, improve agility, enhance security, and reduce complexity. With CloudHealth, customers are able to innovate faster without sacrificing governance or control.
The world’s cutting-edge companies rely on CloudHealth to meet their cloud management needs, including Amtrak, Dow Jones, Acquia, and Sumo Logic, among others. Based in Boston, MA, the company is backed by Scale Venture Partners, .406 Ventures and Sigma Prime Ventures. For more information, visit www.cloudhealthtech.com or follow us on Twitter @cloudhealthtech and LinkedIn.