NEWS
NEWS
NEWS
Despite the continuing decline in venture capital spending, several cloud startups managed to buck the trend last week and secure the funding necessary for their growth plans. Among them was CloudEndure Ltd., which raised $6.2 million from a duo of unnamed ”global strategic investors” to finance the development of new functionality for its disaster recovery platform.
The software lets companies back up their internal workloads to an infrastructure-as-a-service platform in a matter of minutes thanks to an automated replication mechanism that requires only minimal configuration to work. CloudEndure first creates a copy of an application in a customer’s disaster recovery environment of choice, and from there on continuously implements changes made to the original. As a result, the standby version is able to take over on a moment’s notice, which in turn enables end-users to resume work faster after an outage.
CloudEndure’s funding announcement was followed by DigitalOcean Inc. revealing that it’s secured a $130 million line of credit from a group of financial institutions led by KeyBanc Capital Markets Inc. The cash is set to go towards enhancing the storage component of its infrastructure-as-a-service platform and opening more international data centers, starting with a facility in India due to come online next month. The expansion will enable the startup to provide lower latency for local customers and make its public cloud more appealing to organizations with strict information governance requirements to meet.
Many healthcare providers, for instance, are legally obligated to keep patient records within their home jurisdictions. Such organizations are an equally big focus for collaboration giant Box Inc., which launched a feature called Zones last week that lets users specify the geographic location where they wish to keep sensitive files. The functionality is offered in collaboration with Amazon Inc. and IBM Corp., which host the data on the company’s behalf.
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