Joyent secured $15 million in Series C funding. The provider of smart computing solutions plans to use the capital to expand its international operations and to build market momentum for its core platform-as-a-service cloud computing technologies. The round was led by Intel Capital. Greycroft Partners and new investor Liberty Global also participated.
Joyent, a leading global provider of smart computing solutions, announced today that it has secured $15 million in Series C funding to expand international operations and build momentum in the marketplace for the company’s core platform-as-a-service cloud computing technologies. The round was led by Series B investor Intel Capital, with additional support from existing investor Greycroft Partners and new investor Liberty Global.
“This infusion will enable Joyent to continue expansion of our Smart Technologies for cloud computing, including our SmartPlatform open source project and node.js support, to extend our product offerings and customer base,” said Joyent CEO David Young. “It is extremely rewarding to be recognized for our exceptional growth and leadership in the marketplace by such strong and highly regarded investors, and we look forward to leveraging this investment to further expand Joyent smart computing around the world.”
Rapid adoption of cloud technologies—particularly among enterprise businesses—has accelerated demand for Joyent’s flexible, multi-tenant cloud technology, resulting in more than doubling of recurring customer revenues since December 2009. The company recently expanded its operations in Europe, the Middle East and Africa with the addition of EU president Philippe Weppe to lead the company’s build-out in the region and provide greater access to its in-demand cloud computing solutions. To bolster its technology portfolio, Joyent also recently acquired Vancouver-based Layerboom, a leading provider of hardware and software virtualization solutions for hosting providers and enterprises.
Joyent now operates smart technology in five data centers in China; Andover, Mass.; Emeryville and San Diego, Calif. and Dallas, Tx. Joyent also supports service providers in Toronto, Las Vegas, and Amsterdam set to come online this summer, as well as a private cloud offering built on Smart Technologies and offered through Dell as an OEM solution.
“Joyent is uniquely positioned to fulfill the growing demand for scalable, high-performance and affordable data center access to help companies of all sizes take advantage of the cost savings and flexibility cloud computing provides,” said Lisa Lambert, vice president of Intel Capital. “Joyent has clearly demonstrated the kind of innovation and agility required to capitalize on market opportunities in the evolving cloud computing space.”
For more information about Joyent’s unique stack of enterprise-class smart technologies for cloud computing, visit www.joyent.com.
Joyent is the premier Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) provider offering cloud computing solutions worldwide since 2004. Delivering billions of page views per month, Joyent’s Smart Technologies improve performance, scalability, manageability and security for thousands of web and mobile applications. Serving a network of service providers and thousands of customers, Joyent is the only company that runs a major public cloud infrastructure, builds the technologies that power that infrastructure, and uses those technologies to enable multiple third-party public, private, and hybrid clouds. Joyent is a leading infrastructure provider for some of the fastest growing businesses on the Web, including:
Joyent is a leading infrastructure provider for some of the fastest growing businesses on the Web, including:
Watercooler, which supports millions of users every day on Joyent architecture
LinkedIn, which delivers billions of pages each month using Joyent infrastructure services.
Country Life, which has used Joyent’s high performance infrastructure to scale quickly to over 8 million monthly active users on Facebook with great gameplay.
Gilt Group, one of the world’s fastest growing eCommerce businesses, which has been able to reduce costs significantly by building on Joyent infrastructure.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.5 billion in over 1,050 companies in 47 countries. In that timeframe, 175 portfolio companies have gone public on various exchanges around the world and 241 were acquired or participated in a merger. In 2009, Intel Capital invested US$327 million in 107 investments with approximately 50 percent of funds invested outside the United States and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
Greycroft Partners, based in New York City and Los Angeles, is a venture capital partnership formed to invest in promising digital media companies. Greycroft leverages an extensive network of media and technology connections to help investees gain visibility, build strategic relationships, and successfully bring their products to market. Greycroft’s portfolio companies benefit from active, hands-on assistance in all phases of expansion. For more information, visit www.greycroftpartners.com