ClearCube Cutting 18,000-SF Deal for Expansion

AUSTIN-New funding and new products mean three-year-old Austin-based ClearCube Technology Inc. will double in size and space in the coming year in the city’s technology corridor.

Today, ClearCube has announced the closing of $20 million in series C funding. Techno Venture Management has led the round, as well as SAIC VentureCapital Corp., the venture investment arm of Science Applications International Corp., which has become a new strategic teammate. Returning investors included Austin Ventures, Sternhill Partners and Acer. These funds will be used to expand product development, increase sales and marketing efforts, and for general business purposes.

The funding coincides with ClearCube’s efforts this week to unveil two new products at Spring COMDEX in Chicago. Steve Sienkiewicz, ClearCube’s vice president of finance, tells GlobeSt.com that the company is likely to more than double in size in the coming year, from 45 employees up to as many as 100 employees. That means additional space in Colina West, 8834 Capital of Texas Hwy.