moka5 hires Bill Demas as new CEO, raises $15 million in Series B funding

Quoting from the moka5 official announcement:

moka5, a virtual computing company targeting consumers and small to medium-sized businesses, today announced completion of a $15 million Series B round of financing. The round was led by Highland Capital Partners and included an additional investment by existing investor Khosla Ventures.

In conjunction, moka5 names former Microsoft and Yahoo executive Bill Demas as Chief Executive Officer.

Demas comes to moka5 with broad experience in business development, product development, marketing, sales, strategy and general management. He was most recently SVP and GM of the Yahoo Publisher Network Group. At Overture, acquired by Yahoo in 2003, Bill helped lead the company to distribution and publisher revenues of $1 billion. Following the acquisition by Yahoo Publisher Network Group, Demas built hundreds of exclusive distribution relationships with major Internet sites and publishers of all sizes resulting in revenues that more than doubled through 2006.

moka5 Founder and former CEO Monica Lam will continue to help advance the technology at the company as Chief Scientist and has resumed teaching and research in her role as a Professor in the Computer Science Department at Stanford University…