Joyent gain $85 million in funding
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.