Cloudyn, Ltd. today announced it has received $4 million in a Series A financing round, bringing the total investment in the Tel Aviv, Israel-based cloud startup to $5.5 million since its founding in 2011. Cloudyn said it will use part of the funding to enhance the Cloudyn Platform, its flagship offering, a cost-monitoring and optimization solution for multi-cloud deployments. The startup said it will also use the funds to support more hybrid and multi-cloud infrastructures.
The funding round was led by new investor Titanium Investments Fund Ltd., a venture firm that invests in high-tech companies in various stages, with an emphasis on cloud-based technology. Cloudyn also announced that Alexander Aivazov, Managing Partner of Titanium Investments, has joined the Cloudyn’s board of directors as part of the deal. Existing Cloudyn investor RDSeed also contributed to this funding round. RDSeed is a Tel Aviv-based venture firm that invests in early-stage digital ventures, also with a focus on cloud-based technologies.
The Cloudyn Platform is a cloud-monitoring and optimization platform that delivers analytics, enabling customers to identify unnecessary spending, unused resources, and overprovisioned services across public, private and hybrid clouds. Over the past year, Cloudyn has expanded to support a growing number of cloud computing platforms including Amazon.com Inc.’s Amazon Web Services (AWS), Google Inc.’s Google Compute Engine (GCE) and OpenStack. For existing enterprise clients using AWS, GCE and Openstack, Cloudyn said it will use the funding to keep expanding the Cloudyn Platform to give these users deeper business insights and more granular, cost-related metrics.
They said the enhancements will enable expenses to be tied back to their customers’ company revenues and to provide important insights to their CFOs. “In addition, as we support more public and private cloud platforms, users of AWS, GCE and OpenStack will be able to further understand the cost and potential savings associated with migrating their existing deployment to other cloud platforms,” Sharon Wagner, co-founder and CEO of Cloudyn, told SiliconANGLE.
Plans to support Microsoft, VMware platforms
Wagner said the company plans to use its new funding to support additional hybrid and multi-cloud platforms. As they have been seeing a significant uptake of Microsoft Corp.‘s Azure cloud platform, he said this is an important platform that they plan to support. In addition, as part of their hybrid-cloud strategy and to expand their private cloud support, he said they will support VMware Inc.‘s platforms. “More specifically, we are going to support both private and public cloud offerings from Microsoft including Hyper-V,” said Wagner, “and both private and public cloud offerings from VMware including vCenter as well as vCloud Air.”
Enterprise uptake on the rise
Wagner said a larger portion of Cloudyn’s customers are now enterprises. The startup claims more than 2,400 customers worldwide including Fortune 500 companies in the aerospace, infrastructure, consumer online travel services, IT management consulting, and manufacturing spaces. Now that they have received additional funding, the company plans to support enterprises that are “moving from VMware to OpenStack or vice versa,” Wagner said. “Our future support of all major private and public cloud platforms [will play] an important role in our enterprise adoption strategy.”
Additionally, to better support their U.S.-based enterprise customers, Wagner said the company is planning to open an office on the West Coast.