3 Founders, 1 Round & $.72 in the Bank (opens in new tab)

It's funny that you mention that, as that is my personal beef with many startups as well. Funding is not a measure of success; revenue is. However, this article is not about revenue. It's about the funding process. Talking about our revenue (which we didn't have at the time, but we do have now) would have been off topic.

It would seem they do, indeed, have a business model going: https://cloudmine.me/pricing

I'm rather fond of Steve Blank's definition that a startup is "a temporary organization designed to search for a repeatable and scalable business model". If you already have the business model figured out and are executing on it, you're running a business.

There are a lot of companies coming into the PaaS arena in recent years.

Like anything, some will succeed and some will fail.

First thing I thought when I saw their site was that they reminded me of Parse.

This all happened during the final negotiations of our round. That last bit takes obnoxiously long as lawyers have to talk to one another. That was the awkward chasm we fell into: running out of cash as the final documents for the round were being finalized.