From a series B round of Financing, Cloudyn raised a significant amount which will be used for its global expansion, brand recognition and services integration with its partners.
GreatResponder.com Cloudyn, which is a leading company providing hybrid and multi- cloud monitoring and optimization solutions, announced that it has raised $11 million in the series B round of financing. An amazing fact about Cloudyn is that the company tripled its revenue in the last three following years and doubled its personnel. Figures show that the company is currently monitoring over 200,000 virtual machines and 12,000 concurrent applications.
The new round of business enterprise funding was led by Carmel Ventures and included contributions from the previous investors Titanium Investments and RDSeed.
“After following the cloud services industry for last few years, backing a company such as Cloudyn was a clear choice,” stated Ronen Nir, General Partner of Carmel Ventures. “We see a growing need among enterprises that are cloud users to optimize and perfect their resource allocation, while enhancing performance and reducing cloud spend”. It was also announced that the Ronen Nir, General Partner of Carmel, will join Cloudyn’s board of directors.
“Cloudyn has been at the forefront of cloud monitoring and optimization for public and more recently, private cloud,” said Sharon Wagner, CEO of Cloudyn. “We have a superb team, disruptive technology, an ongoing commitment to product innovation, and it’s getting noticed,” he noted. “The funding will allow us to build on this momentum and increase our market share in North America and global markets.”
It is a fact that the cloud management industry is growing very rapidly and it is more dynamic as compared to the recent past. The attractiveness of hybrid clouds, which include both public and private premises, has added complication to the management task. This situation increased the need of creating a specialist monitor such as Israel-based startup Cloudyn to cope up the situation. A study conducted by 451 Research predicts that many companies plan to spend up to 50% of their cloud budget for these services.
Since 2014, when Cloudyn received $4 million in funding, the company says it has focused on engaging clients among Fortune 1000 enterprises and managed service providers. Over the past year alone, infrastructure as a service (IaaS) and platform as a service (PaaS) hybrid and private cloud providers generated more than $321 billion in revenues.
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