Joyent snags round of funding to boost cloud attack
The firm has been boosted by $85 million in venture capital funding to help bring to market a range of new services.
Cloud computing and systems software provider Joyent has secured $85 million in venture capital funding to help turn its innovative ideas into products and services.
The firm looks set to use the mammoth cash boost to roll out a series of new cloud offerings in an attempt to eat into Amazon's lead in this market.
We are delighted to make this strategic investment in a company that is providing solutions to some of the toughest problems in cloud computing.
The European venture capital firm Weather Investment II is responsible for the majority of the funding, with Spanish telco Telefonica serving as a strategic investor.
"We see the demand for consistent global services regardless of how many countries our customers are operating in," said David Young, Joyent's CEO.
"This funding will enable Joyent to build out a global compute offering to assist customers in expanding consistent software, support and services to their clients."
Joyent's different approach to the implementation of cloud computing was the main driver behind the investment, according to the investors.
"We believe that Joyent's unique approach to cloud and systems solutions provides an edge compared to other providers," said Khaled Bichara, co-CEO of Accelero Capital.
"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, thereby unleashing the full potential of the next generation of computing."
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