US-based cloud software provider Joyent has secured US$85m of investment in a funding round led by Weather Investment II, the investment vehicle of Egyptian businessman Naguib Sawiris, and also involving Telefonica Digital.
In a statement, Joyent said…
US-based cloud software provider Joyent has secured US$85m of investment in a funding round led by Weather Investment II, the investment vehicle of Egyptian businessman Naguib Sawiris, and also involving Telefonica Digital.
In a statement, Joyent said that Weather Investment II had made the majority of the funding. Weather Investment II was advised by Accelero Capital, an investment company focused on the TMT sector.
The co-CEO of Accelero Capital, Khaled Bichara, said: “We are delighted to make this 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.”
Telefonica Digital, the digital services arm of the Spanish incumbent, also participated in the funding round. A Telefonica Digital spokesman said that its investment was in the “single digit millions”.
Its CEO, Matthew Key, said that Joyent’s technology fitted with technologies developed in-house and its current cloud services model, which would allow it to give more competitive offerings to a wider range of customer segments.
Joyent said in the statement that in 2012 it would roll out a collection of “public clouds” that would provide global businesses with consistent computing services on all continents.
The company’s CEO, David Young, said that the funding would allow it “to build out a global compute offering to assist customers in expanding consistent software, support and services to their clients”.
Joyent’s current investors include El Dorado Ventures, Epic Ventures, Greycroft Partners, Intel Capital and Liberty Global.
