Cloudyn Lands Extra Funding Amid Growing Market


Cloudyn Lands Extra Funding Amid Growing Market

By Steve Anderson

It's been a while since word last emerged about Cloudyn, but the cloud administrative services market is well on an upward trend. Cloudyn itself, meanwhile, managed to land some new funding itself as a recently-concluded Series A funding round landed $4 million for the company, a development that offers some significant new opportunities for the firm.

Cloudyn's primary stock in trade is a cloud administrative service that better allows companies to deal with cloud utilization, both in terms of monitoring current use and optimizing that use to offer better results. This allows for more stabilized cost profiles and the like, even when using different infrastructure providers and that explains pretty handily why a group of investors ponied up an additional $4 million for Cloudyn's use. Not only did current investor RDSeed come back for more, but Titanium Investments reportedly led the charge on this one with a variety of other investors. To date, the company has raised fully $5.5 million for its operations, and the Cloudyn board of directors gets a new addition in the form of Titanium Investments' managing partner Alexander Aivazov.

Right now, Cloudyn's services work with such major names as Amazon Web Services and Google Cloud, but reports suggest that the company is looking to expand outward and bring in other services as part of its normal operations, particularly offerings like those of VMware as well as Microsoft Azure. With demand on the rise from the user base to add these platforms to current operations, Cloudyn was left in a position where making the additions was largely necessary, lest the risk of lost customers get too high. But making those changes required an additional note of funding to make same happen, and so, the funding round went on with likely some very interested investors looking to get in. After all, when a company needs money specifically so it can address a market that's demonstrated interest; it's hard not to take an interest in putting cash behind such a firm. With 2,400 customers to date already in Cloudyn's roster, that's an equally good sign.

Some, like Andreessen Horowitz general partner Peter Levine, see the growth of firms like Cloudyn as extensions of a whole new means of computing, which some are calling “Data Center as a Service”. This actually represents a noteworthy step forward, some believe, because with an increasing amount of traffic going to the cloud, finding ways to make that traffic run more efficiently can, in turn, lower costs. With more and more of a business' operations going to the cloud—a measure that makes a note of sense in light of things like the mobile workforce and the bring your own device (BYOD) concept—making the cloud work more efficiently saves time, and therefore money.

There's almost always value to be had in streamlining processes; doing more with less is commonly the sort of thing that improves profitability by dint of reducing expenses while at the same time leaving revenue either static or upwardly-bound. A service like Cloudyn's, meanwhile, can be a big help on that front, allowing companies to not only better know what's going on in terms of said companies' cloud use, but also providing some insight on how to improve it. Only time will tell if the Cloudyn service really catches on, but with users already in the fold and working, it's a pretty safe bet that stretching the service out to more platforms, as the users actually requested, will result in further expansion.

Edited by Maurice Nagle

Contributing Writer

Related Articles

IBM Names New Managed Infrastructure Services Business 'Kyndryl'

By: Luke Bellos    4/15/2021

Representatives of IBM have announced the name of the company's independent MIS business, which is expected to launch at the end of this year.

Read More

Dizzion Releases New Managed Desktop Offering for IBM Cloud

By: Luke Bellos    4/14/2021

Managed DaaS provider Dizzion has announced the release of a new managed desktop offering for remote workers, leveraging IBM Cloud.

Read More

ISG Provider Lens Report Finds US Companies Turning to Enterprise Management Services

By: Luke Bellos    4/8/2021

A new report by ISG find that many companies are turning to EMS to help digitally enhance business operations.

Read More

IDT Leads $7M Series B Funding Round for MarketSpark

By: Maurice Nagle    4/8/2021

MarketSpark announced the completion of a successful Series B round of financing, bringing in $7 million to scale sales, marketing and platform develo…

Read More

AvePoint Announces Availability of Salesforce Cloud Backup

By: Luke Bellos    4/6/2021

AvePoint's Salesforce Cloud Backup can now be purchased across 58 distributor marketplaces.

Read More