CloudHealth Names New CEO Tom Axbey Fresh Off a $46 Million Funding Round

Boston-based cloud service management platform CloudHealth Technologies is embarking on its next stage of growth with new leadership after inking $46 million in a Series D funding round this July. The latest raise brings the company’s total funding to about $85.7 million, with backers including Kleiner Perkins Caufield & Byers, Sapphire Ventures, Scale Venture Partners, 406 Ventures and Sigma Prime Ventures.

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The IT management firm has appointed former Rave Mobile Safety CEO and IBM executive Tom Axbey as its new CEO, replacing co-founder Dan Phillips, who will remain chairman of the board. CloudHealth co-founder and CTO Joe Kinsella will remain in his role.

The five-year-old company says it has doubled its annual revenue over the past three years and intends to boost its momentum through the new funding, with plans such as building out its employee base from about 200 to 420 by the end of next year. CloudHealth, which helps businesses manage hybrid computing environments with software that analyzes operations in efforts to lower costs, improving performance and enhance security, lists customers such as Dow Jones, Sumo Logic, Pinterest and Acquia.

At the helm of the high-growth tech company, Axbey will focus on driving efficiency and execution with a particular focus on international sales. He brings to CloudHealth over two decades of experience in leadership positions at U.S. tech companies.

Axbey will remain a board member and advisor at Rave Mobile Safety. He is also an advisory board member at ParkMyCloud and a board member at Tervela. Before leading Rave Wireless, Axbey was VP Tivoli/netcool at IBM. His previous titles include senior VP and GM at Micromuse, now owned by IBM, Senior VP of Sales and Marking Quallaby, which was bought by Micromuse, and VP of Marketing and Business Development at American Internet Corp., now owned by Cisco.