Cloudyn this week announced it has raised $4 million in financing. The company plans to use the funding to expand support for more more cloud computing infrastructure platforms and enhance its offering. Here are the details.
Cloudyn co-founder and CEO Sharon Wagner.
Cloudyn this week announced it has raised $4 million in financing to expand support for more more cloud computing infrastructure platforms and enhance its offering.
Titanium Investments led the Series A funding round, with participation from existing investors RDSeed. This investment brings Cloudyn's total funding to $5.5 million to date. The Tel Aviv-based cloud monitoring company in September 2011 secured $1.5 million in seed financing.
Cloudyn co-founder and CEO Sharon Wagner told Talkin' Cloud that the company will "use the proceeds to expand our offering to new hybrid cloud platforms and support our growing base of clients in North America and EMEA."
"Specifically, as we are seeing a nice uptake of Azure, this is an important platform that we are going to support," he said. "As part of our hybrid-cloud strategy and to expand our private cloud support, we will additionally support VMware."
Cloudyn's network of channel partners — which includes cloud vendors, system integrators, managed cloud service providers and cloud technology providers — will grow as a result of this funding, Wagner said. The company also has plans to open an office on the West Coast.
Wagner said the company is not planning to raise any additional funds from investors in the near future. He added that Cloudyn will instead rely on its "strong revenue growth."
"In addition to expanding the platforms we support, we will also enhance our offering for the existing platforms, providing enterprise clients using any cloud platform with deeper business insights and more granular cost-related metrics," Wagner said.
He added: "These enhancements will enable expenses to be tied back to the company's revenue and to provide important insights to CFOs."