The Helsinki-based cloud computing company UpCloud has raised €4 million in its first external round of funding. With the funds, the company aims to accelerate its international expansion. The first external round of funding for the company was led by Inventure, a leading Nordic venture capital firm.
UpCloud offers high performance cloud computing at an attractive price. The young company was recently awarded the title of the third fastest growing technology company in Finland with a growth rate of nearly 1.200%. This spring, UpCloud was also awarded the highest performance in the infrastructure space in a benchmark released by the market research company CloudSpectator.
Antti Vilpponen, CEO of UpCloud stated: “We have built value for our customers from the start and enjoyed excellent revenue growth. Our ambition is to offer our services to customers globally at a faster pace, and this is the next step on that path”.
By the way: Before joining UpCloud as CEO, Antti was the co-founder and CEO of the startup blog ArcticStartup. Check out our interview with him – published in 2011.
Now, the company aims to become a global European alternative in the high-performance cloud computing space. UpCloud currently offers its services from four data centers located in Helsinki, London, Chicago and Frankfurt. The company follows privacy measures diligently to ensure the best service for its clients.
Sami Lampinen from Inventure commented: “We are happy to further boost the growth of UpCloud. We will help UpCloud to expand to new markets and new customer segments, which will all benefit from the superior cloud performance UpCloud offers.”
The technology in use by UpCloud is built in-house to offer better performance, redundancy and value for customers. With the extra funding UpCloud will expand its team as well as finance the opening of new offices and data centers internationally.
“A major shortcoming in cloud computing has always been poor and fluctuating performance. We have, over the years, solved many difficult challenges with our own R&D and technology and I am very happy to state, that we are now able to spread our world class technology faster to an even wider audience”, says Joel Pihlajamaa, CTO and Founder of UpCloud.