Cloud9 raises $17.5 mn led by UBS

Cloud9 Technologies, a leader in cloud-based communications, has raised $17.5 million in Series B funding round led by a strategic investment from UBS, with participation from existing investors including J.P. Morgan and Barclays.
Dollar spending on technologyCloud9 has seen new business increase by over 50 percent since March, as it has signed up several of the world’s top global banks and investment management firms.

“The transition to a virtual, cloud-based trading floor is accelerating as the industry recognizes the importance of a more flexible and intelligent voice communications model,” said Jerry Starr, chief executive officer at Cloud9.