Cloud Computing Software Company Joyent Raises $85 Million To Pursue Global Growth
Cloud computing software and service provider Joyent has secured an $85 million round of new funding, the company is announcing today. The round was led by European group Weather Investment II. It also included Telefónica Digital, the growth arm of global telecom giant Telefónica, which participated as a strategic investor.
Weather II is a strategic shareholder in telecommunications companies. Most notably, it holds a 20% stake in Vimpelcom, the world’s sixth largest mobile telecommunications group by subscribers. Joyent states that Weather II was advised in the round by investment and management group Accelero Capital. Both Weather II and Accelero focus on telecommunication and related media and technology companies in telecom and enterprise markets.
“We are delighted to make this strategic investment in a company that is providing solutions to some of the toughest problems in cloud computing, such as cloud performance, resiliency and security,” said Khaled Bichara, co-CEO of Accelero Capital.
Meanwhile, Matthew Key, Chairman & CEO of Telefónica Digital praised how Joyent’s technology would fit perfectly with technologies it has developed in-house and its own cloud services model.
Joyent’s cloud software suite SmartDataCenter is used by developers and enterprises worldwide. With JoyentCloud.com, the company provides public cloud services to a number of well-known companies, including LinkedIn, Gilt Groupe, Dell and Kabam. It’s also the steward of the open source server-side JavaScript project Node.js, a runtime for developing data-intensive, real-time apps, and a contributor to Joyent SmartOS, an open source project which powers the commercial software SmartDataCenter.
According to David Young, CEO and founder of Joyent, the new funding will enable Joyent to “build out a global compute offering to assist customers in expanding consistent software, support and services to their clients.”
Throughout 2012, Joyent plans to roll out a collection of “seamlessly connected high performance clouds” serving global corporations on every continent, the company says.
The San Francisco-based company had previously raised $5 million in September, which brought it close to $30 million total. The company’s existing investors include El Dorado Ventures, Epic Ventures, Greycroft Partners, Intel Capital, and Liberty Global.
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