Going global

Joyent gain $85 million in funding

AnnaKent
Joyent.2

Cloud and systems software provider, Joyent, complete a funding round to fuel global growth and to maintain innovation

San Francisco based cloud and systems software provider, Joyent,
has completed an $85 million funding round as well as signing a
deal with telecoms provider Telefonica. This will give Telefonica
the right to use Joyent’s latest technologies and software for the
deployment of cloud services.

The chief executive of Joyent, Dave Young said “you need to
think of this as almost a Star Alliance for the cloud,” as Spain’s
Telefonica is the world’s third largest telecom, helping Joyent
secure a deal with a company that operates throughout Europe, Asia
and Latin America.

This $85 million in funding has on the most part come from
Weather Investment II, a European investment firm which focuses on
telecommunications.  Weather Investment II are advised by
Accerlero Capital who are an investment managing group, together
they focus on media and technology companies that make a difference
in the enterprise markets. Co CEO of Accerlero Capital, Khaled
Bichara said:

We believe that Joyent’s unique approach to cloud and systems
solutions provide an edge compared to other providers. 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.

Existing investors who also contributed to the $85 million are
El Dorado Ventures, Epic Ventures, Greycroft Partners and Liberty
Global.

This could boost Joyent’s global cloud computing and software
stack and Young speculates that in “two to three years, you’ll see
a company that’s global continuing to mature…We’ll continue to
grow this Star Alliance of the cloud.”

This joint venture will result in a combination of Telefonica’s
global scale and infrastructure with cloud architecture developed
by Joyent. Young went on further to say:

This strategic partnership and funding will enable us to expand
our product offering to more regions and to evolve our products,
taking advantage of the service provider vision brought by
Telefonica.

The plan is for Joyent to release a selection of fully
integrated high performance public clouds that will cater for
global corporations. “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.” Now we
can just wait and see whether or not Joyent can rival Amazon in the
cloud computing space and as Young said; “For God’s sake, it’s a
book and grocery store,” they can be beaten.  

 

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