Cloud management software startup OnApp said today that it has raised $20 million in funding, cash it hopes will help expand its product offerings into more countries.
OnApp claims to power public cloud services for more than 500 providers in 39 countries. OnApp says 40 percent of its revenue currently comes from the U.S. companies, but it is also seeing strong growth in Asia-Pacific and Latin America.
The company’s most popular product is OnApp Cloud, which provides “everything you need to build a fully featured cloud hosting service” and can be deployed in a matter of days. It has also launched OnApp CDN, OnApp Marketplace, and OnApp Storage to diversify its offerings.
“In 2010, we set out to build a turnkey platform to make it easy for service providers to create profitable cloud services,” OnApp CEO Ditlev Bredahl said in a statement. “Our customers now run some of the fastest growing cloud services out there, with an average annual growth rate of over 80 percent. We’ve also seen a new breed of Virtual Service Providers emerge, who are creating a wide range of cloud-based businesses on top of the OnApp Marketplace. This round of funding gives us a solid financial base from which we will continue creating products that make OnApp-powered service providers the most successful in their markets.”
London-based OnApp was launched in July 2010 and has more than 115 employees across Europe, the U.S., and Asia. The new funding was led by U.K.-based private equity firm LDC.
Cloud image via OnApp