Rackspace Backs Cloudant For Cloud Databasas

Cloud services and hosting firm Rackspace has backed a developer of cloud-based databases, Cloudant, in a venture deal this morning. Cloudant said it raised $12M in a second round of funding this morning, including investments from Rackspace, Devonshire Investors, Toba Capital, as well as Avalon Ventures, In-Q-Tel, and Samsung Venture Investment Corporation. Cambridge, Massachusetts-based Cloudant's database-as-a-service lets users store and analyze data in the cloud, and can run within the Rackspace cloud or its competitors. San Antonio-based Rackspace is a major provider of cloud computing services. More information »