Cloud-based system BizAnytime said it closed more than US $2 million in seed funding initiatives by seeking out small venture capitalists who want to rake in profits in the technology sector.

Lief Hartwig, CEO of BizAnytime, said they count themselves lucky to be able to find private investors who are just as interested with BizAnytime as they are.

"With industry analysts predicting that cloud collaboration will reach only 33 percent market penetration by 2017, we know that the untapped market for BizAnytime is vast," he said.

A good chunk of the funding has been spent for research and development. Presently, the company is already on the business development stage after releasing and testing the beta version of the software application.

BizAnytime is also soliciting suggestions from its users in order to improve the product even further. The latest feature integrated into the software is the Dropbox system which allows users to drop large amount of files into the communication even if they bypass the email function.