GreenQloud Raises Additional Funding for IaaS-based Virtual Servers, Data Storage Solutions

Cloud solutions company GreenQloud on Tuesday said it has raised additional funding for its services portfolio that includes virtual servers and data storage infrastructure as a service (IaaS) powered by renewable energy. The company did not disclose the size of the investment.

Novator led the financing round, with participation from existing investors Keel Investments and Nýsköpunarsjóður atvinnulífsins. This new investment brings the GreenQloud’s total funding to date to approximately $10 million.

“Our current investors are very well networked globally and they really believe in what we are doing here at GreenQloud,” said Jónsi Stefánsson, CEO at GreenQloud, in an interview with Talkin’ Cloud. “They’ve become very strong and welcome advocates for seeing to it that we meet our growth and market objectives.”

GreenQloud’s product portfolio includes QStack, a cloud-based infrastructure software solution that enables IT administrators to manage multiple data centers, public cloud utilizations and geozones from a single pane of glass.

“We discovered in our company development that our true value is in the software solutions we are able to create,” Stefánsson said. “We took what we learned from the public cloud experience and used that knowledge to create private and hybrid cloud software solutions that could meet enterprise needs.”

Headquartered in Iceland, the company said it will use the additional funding to expand its operations into new territories. Besides ramping up efforts in Europe, GreenQloud, which was founded in 2010, is currently in the middle of opening its Seattle office to “facilitate more traction in the U.S. market, from where we’ve seen significant demand for QStack,” he said.

In addition, Stefánsson said the financing will be used for sales channel growth. “We are also moving away from direct sales here and are beginning to onboard resellers and system integrators,” he said.

“We will continue focusing on our software development, as it is really the core of our business,” he said. “Our focus now is on market growth in the United States and Europe, and getting our reseller partnerships established.”

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