CloudSwitch, a Waltham, Mass. company that creates cloud management software, just brought in $7.4 million in first-round funding to continue development on several stealthy projects. Little is known about what may distinguish its products from those offered by similar cloud firms RightScale, Hyperic and Amazon Web Services, only that they “will help enterprises dramatically reduce costs,” according to its web site.

The company, backed by Atlas Ventures and Matrix Partners, also says it’s hiring but doesn’t list any job openings on its site. A quick mention on GigaOm suggest CloudSwitch will place emphasis on cloud storage capabilities.