HomeFundingLuxembourg-based emma scoops up €5.5 million to cut cloud costs and complexity

Luxembourg-based emma scoops up €5.5 million to cut cloud costs and complexity

SaaS startup emma has secured €5.5 million ($6 million) for its no-code multi-cloud management platform. Born in Luxembourg, the company now plans to expand internationally. 

More and more companies are opting for multi-cloud solutions as digital transformation continues to evolve. It offers a range of benefits for businesses, notably flexibility and scalability. The typical company currently uses two or more providers to meet all of thier needs.

As the tech emerges, sticking points have emerged surrounding the complexity of managing multi-cloud and the costs of using multiple platforms. Operational risks and nuances are preventing companies from realising the true benefits of multi-cloud environments. Born in Luxembourg, emma aims to change that – armed with a mission to make multi-cloud a commodity, easy to access and simple to unlock.

The startup has just secured €5.5 million ($6 million) for its end-to-end, no-code cloud management platform. The funding round was led by RTP Global, with participation from AltaIR Capital and CircleRock Capital.

Dmitry Panenkov, CEO and founder of emma: “Unlike other multi-cloud management applications, emma provides a range of features including microservices, security, and network management in a single platform. And that’s not our only point of difference. For example, our recently released machine learning algorithm analyses the behaviour of a company’s workloads and applications, predicts future cloud spending, and recommends actions to reduce this. In fact, the average saving has risen from between 25 and 30 percent to 45 percent since its launch.”

“When companies build their own network over the internet, providers will charge for incoming and outgoing traffic, for the gateways deployed on the edge of every cloud provider, and for the routers needed to host their data. But with emma’s own multi-cloud networking backbone – the network that physically connects different cloud providers – companies can save three times more than using their own or a provider’s network.”

It’s reported that 75% of midsize and large organisations have adopted a multi-cloud strategy. These cloud environments, whether private or public, offer greater flexibility, higher availability, and minimal latency and load times. As a result, they help companies meet key objectives and targets and are a critical part of keeping up with increasing digitisation.

However, multi-cloud isn’t as simple as it should be just yet. It’s still generally characterised by complex management processes and different operational risks are holding the tech back.

One major issue is a lack of skilled workers. Most multi-cloud solutions require highly skilled developers – and this makes them inaccessible to many companies.

Emma, however, offers a platform to simplify multi-cloud management. It supports all major cloud providers and is a low/no-code option, enabling enterprises to run multi-cloud environments effectively and cost-efficiently without the need for additional skilled professionals or coding.

Launched in 2021, the company has a vision of unlocking the benefits of multi-cloud without the cost or complexity, and it’s growing fast.

Jelmer de Jong, Partner at RTP Global: “Most businesses today are turning to multi-cloud to optimise performance and reduce the risk of service disruption. But it’s not without its complications. Cloud is rapidly becoming one of the highest spend categories for most companies, especially when you consider the number of different tools required to manage multi-cloud deployments. And there is typically little room to negotiate or reduce those costs.emma gives the power back to the buyer by increasing platform independence, reducing vendor lock-in, and achieving significant cost saving for its customers. We were so impressed by what Dmitry and his team have already achieved and we look forward to partnering with them on their journey to help more companies enjoy the benefits of multi-cloud, without the complexity.”

With this new investment, the company plans to scale its team and hit the accelerator on its development pipeline. It plans to launch several new automation-related features this year, including infrastructure as code, agnostic transfers and autoscaling for managed services across different cloud service providers. emma is also planning to improve the existing native connectors to its customers’ private clouds, allowing them to seamlessly scale workloads from private to public clouds, and avoid overheads in their hardware environments.

Another key focus for 2023 is the company’s expansion into the US – tapping into a lucrative market.

Panenkov: “Companies in the US are struggling to manage their cloud environments, with many using six or seven tools to manage just two cloud providers. And we can help them streamline this down to just one application. We’ll be expanding our team in the States over the coming months as we look to scale across the country.”

Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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