Cloud Management Software Startup OnApp Secures Over $20 Million in Funding

MSP TODAY NEWS

Cloud Management Software Startup OnApp Secures Over $20 Million in Funding

By Erin Harrison

Cloud management software startup, OnApp has closed a new round of funding, bringing total investments to more than $20 million. The funding will be used to help OnApp roll out a new line of products and services in 2013, as well as expand into new global markets.

The London-based company provides a platform that supports public cloud services for over 500 service providers across 39 countries, making it the most widely deployed cloud management platform globally, company officials said. Existing investor, LDC, a U.K.-based private equity firm, led the funding round.

OnApp was launched in 2010 on the premise of building a “turnkey” platform to help service providers create profitable cloud services, according to Ditlev Bredahl, CEO of OnApp. The company’s customers run some of the fastest growing cloud service businesses with an average annual growth rate of over 80 percent, according to Bredahl.

“We’ve also seen a new breed of virtual service providers emerge, who are creating a wide range of cloud-based businesses on top of the OnApp Marketplace,” he said in a statement. “This round of funding gives us a solid financial base from which we will continue creating products that make OnApp-powered service providers the most successful in their markets.”

OnApp’s flagship product is called OnApp Cloud; the company generates about 40 percent of its revenue from the U.S. market and is also seeing growth in the Asia Pacific and Latin American markets.

In addition to OnApp Cloud, the company offers OnApp CDN, the OnApp Marketplace and OnApp Storage. OnApp CDN is a content delivery network designed to optimize website performance, and has grown to more than 130 points of presence in 39 countries in the last 12 months by federating the spare cloud capacity of existing OnApp customers.

Company officials claim that OnApp CDN has almost three times as many locations as Amazon CloudFront, and is nearly as big as CDNetworks.com, a company that has been in the space for more than 12 years.

With OnApp CDN, users gain access to OnApp’s global cloud federation, enabling them to assist their clients’ in rapidly launching new content and applications, including website acceleration and performance tools. This in turn allows clients to see an increase in profits due to newly established revenue streams, without having to first shell out a massive amount of capital developing their own CDN infrastructure.




Edited by Brooke Neuman

Executive Editor, Cloud Computing

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