Rockville, Md.–based CloudBolt Software is looking to double staff following the recent close of a $23 million Series A round.

The funding was led by Insight Venture Partners. The New York VC also recently backed D.C.–area company LeaseAccelerator. Originally named SmartCloud prior to 2012, CloudBolt had found its way in the enterprise market and is now poised to grow significantly.

The funding itself comes at a point within the cloud industry where the need for companies to transition from on-premise clouds to hybrid clouds is dramatically increasing. The global hybrid cloud market, which was valued at $40.62 billion in 2017, is expected to reach a value of $138.63 billion by 2023, according to the company.

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