Israeli cloud monitoring, management and optimization company Cloudyn has closed an $11 million Series B financing round. The investment was led by the Viola Group's Carmel Ventures with participation of previous investors Titanium Investments and RDSeed (a partnership of Elron Electronic Industries Ltd. (TASE: ELRN) and Rafael Advanced Defense Systems Ltd.).The company also announced that Carmel Ventures general partner Ronen Nir will join its Board of Directors.
Based in Rosh Ha'ayin, Cloudyn was founded in 2011 by CEO Sharon Wagner, CTO Dr. Boris Goldberg and VP products Vittaly Tavor. The company has raised $16.5 million to date including the latest financing round.
Cloudyn has tripled its revenue for three consecutive years in addition to doubling personnel. The company’s single pane of glass approach provides clarity and actionable insights for optimal cloud management. Currently monitoring more than 200,000 virtual machines and over 12,000 concurrent applications, Cloudyn will use the proceeds to further its market share and brand, as well as continue advancing first-to-market solutions to ensure customer satisfaction.
Nir said, “After following the cloud services industry for last few years, backing a company such as Cloudyn was a clear choice. We see a growing need among enterprises that are cloud users to optimize and perfect their resource allocation, while enhancing performance and reducing cloud spend. Cloudyn's disruptive technology provides meaningful and actionable data, founded in both operational and financial metrics."
Wagner said, “Cloudyn has been at the forefront of cloud monitoring and optimization for public and more recently, private cloud. We have a superb team, disruptive technology, an ongoing commitment to product innovation, and it’s getting noticed. The funding will allow us to build on this momentum and increase our market share in North America and global markets.”
Published by Globes [online], Israel business news - www.globes-online.com - on December 14, 2015
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