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Loudcloud raises $120M
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June 27, 2000: 2:58 p.m. ET
Marc Andreessen's latest venture now has raised a total of $200M
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NEW YORK (CNNfn) - A famous name can go a long way in helping a young technology company raise startup financing.
Loudcloud Inc., a company founded last September by Netscape co-founder Marc Andreessen and former Netscape/AOL executives Ben Horowitz, Tim Howes and In Sik Rhee, proved that Tuesday by announcing that it had raised $120 million of funding from an investor group in addition to $80 million the company previously obtained.
The investors in the company's latest round of financing include Capital Research and Management, Amerindo Investment Advisors, Aurora Technology Funds, Octane Capital Management, Charter Growth Capital, Integral Capital Partners, and repeat investors Benchmark Capital and Angel Investors, Loudcloud said.
Loudcloud, based in Sunnyvale, Calif., provides software infrastructure services for Internet businesses. The company manages the software, hardware, network and operations infrastructure for online businesses.
Loudcloud said it will use the $120 million for "general operating expenses, including the continued geographic and international expansion of Loudcloud's sales and infrastructure services worldwide."
The company previously announced that it had teamed with some of the leading hardware and software vendors, including Oracle Corp., Sun Microsystems Inc., Exodus Inc. and EMC Corp. In a strange twist of fate, Andreessen also aligned his company with Microsoft Corp., even though the software maker has been accused of trying to crush Netscape in the browser market by using anticompetitive tactics. 
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