Cloudyn Plans Expansion With £7.3m Series B Funding
Cloudyn’s cloud monitoring and management platform funding shows value in the future of hybrid and public cloud
Four-year-old cloud monitor Cloudyn as struck gold with an $11 million (£7.3m) in Series B funding, with the cash going towards growing its ever increasing global expansion.
The funds bring Cloudyn’s total raised to over $14 million, with the B-round led by Carmel Ventures, a member of the Viola Group, and other previous investors.
Growth
Starting off life helping out AWS customers understand and get the most out of their cloud usage, Cloudyn expanded to cover Microsoft’s Azure, Google and Rackspace. Cloudyn said it also plans to bring into the fold monitoring services for a variety of OpenStack-based providers too.
Cloudyn further claims to have tripled its revenue for three consecutive years, as well as doubling staff.
“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.”
Cloudyn, which is based out of Tel Aviv, Israel, said that it has seen “tremendous” market momentum over the past 12 months, recruiting customers from some of the Fortune 1000’s top businesses and managed service providers.
“The rapid, continued adoption of Cloudyn underscores the value that its leading cloud monitoring and optimization solution delivers,” the company said today.
