HBS Biz Plan Winner Gets Venture Capital Funding
Winning Harvard Business School's annual business plan competition is officially worth $50k and a silver fruit bowl (sans fruit). For this past April's winner, it also helped foment a VC feeding frenzy. "We almost immediately began getting a lot of interest from VC firms around the world," says Matthew Prince, president and CEO of CloudFlare, an Internet security startup focused on website access control. "We were in a really luxurious position to be able to look around to see who made the most sense for us to work with, from both an expertise and personality perspective." CloudFlare went with Venrock and UV Partners, which recently provided a $2.05 million Series A round. Ray Rothrock of Venrock and Carl Ledbetter of UV Partners joined the CloudFlare board of directors.
