HyperGrid Closes $25M Series C Round o Accelerate Company Growth and International Expansion Efforts
Hypergrid have announced the closing of a $25M Series C round of funding co-led by Atlantic Bridge and new investor, HighBar Partners and participated in by current investors Acero Capital. The new round will be used to drive product development, expand the global reach for its flagship cloud management solution, HyperCloudTM and support the Company’s growing base of enterprise and managed service provider customers.
“Our completeness of vision, our team and differentiated technology have been well-received within the market,” said Nariman Teymourian, Chairman of the Board and Chief Executive Officer at HyperGrid. “With the help of our investment partners, we will look to expand the reach of our cloud expertise and industry-leading hybrid cloud management solution to help businesses around the globe with cloud adoption.”
Building upon the Company’s successful 2017, HyperGrid has accelerated growth by further penetrating the U.S. market and establishing a solid foothold in APAC and EMEA, resulting in a year-over-year increase in revenue of 300 percent across its enterprise and MSP customer base. HyperCloud is available as a SaaS offering or can be deployed as software on any cloud or on-premises environment to provide customers maximum flexibility in enabling their cloud journey. Since its launch in February 2018, over 100 customers have adopted HyperCloud SaaS. This has enabled HyperGrid to dramatically differentiate itself from competitors which primarily focus on narrower approaches. As a result, HyperGrid was identified as one of CRN Top 10 Cloud Computing Startups for 2018. Additionally, HyperCloud, the industry’s first truly intelligent cloud management solution, was rated one of the top three solutions based on the depth of its capabilities by Forrester in the Q2 2018 Hybrid Cloud Management Wave Report.
“As with many developing markets, the cloud management market has seen its fair share of promises and far fewer viable solutions, but HyperGrid’s solution is worthy of the hype,” said John Kim, Co-Founder and Managing Partner at HighBar Partners. “HyperGrid’s technology and unique software-defined cloud approach are the real-deal, offering a robust set of features that can help customers throughout their cloud migration and usage lifecycle while delivering value back to the business at every phase, not just saving money on their cloud bill. This, combined with Nariman’s vision and his team, have put them in prime position to overtake conventional cloud management solutions as market adoption accelerates.”
“Businesses migrating to public cloud quickly find that managing cloud spend is only one of the challenges they will face,” said Kevin Dillon, Managing Partner at Atlantic Bridge Capital. “HyperGrid’s technology uniquely delivers on the promise of hybrid cloud management through turnkey capabilities to simplify and automate traditionally complex processes for cloud planning and optimal workload placement in addition to proactively optimizing cost and enforcing security based on best-practices. This holistic approach is critical for businesses to succeed with their public cloud adoption and digital transformation projects.”
“Businesses evaluating hybrid cloud management solutions often find it difficult to understand which technologies truly meet their needs because there is a certain level of ‘sameness’ in the feature sets and marketing that has developed,” said Rami Elkhatib, General Partner at Acero Capital. “HyperGrid’s vision for innovating to move beyond the traditional passive cloud cost management and reporting core functions, and the team’s ability to deliver truly differentiated proactive, recommendation-driven approach to managing private and public clouds, give us great confidence that the company can deliver far more value to its customers than just a slight dip in their cloud bills.”
Teymourian and co-founder and Chief Product Officer, Manoj Nair, lead a team of professionals with significant infrastructure software and cloud experience, including leadership positions at companies such as HPE, Microsoft, VMware, EMC, Dell and MobileIron. Teymourian brings a proven startup track record having successfully led five companies to acquisitions resulting in more than $1B in exits. Nair brings senior-leadership experience in product development and strategy having served as GM and VP of Product Management for HPE’s converged systems group, SVP and GM of Identity and Cloud at RSA and SVP Strategy, R&D for EMC Federation Cloud efforts, prior to co-founding HyperGrid.
HyperCloud enables businesses to embrace public clouds and drive their digital transformation via the broadest set of functionalities to discover and plan cloud migrations, optimize costs, secure resource and scale operations in the public cloud. HyperCloud has a unique app-centric, modular approach that enables businesses to scale their cloud management capabilities within a common framework that provides centralized control and management of all private and public clouds and eliminates the need for ongoing training. HyperCloud analytics is powered by its massive database of more than 400 million data points across the major public clouds enabling instantaneous recommendations for optimizing new and existing applications using multi-dimensional analysis of factors such as cost, performance and compliance. HyperCloud also analyzes past cloud usage to understand customer needs and speed service delivery by eliminating manual processes. As a result, enterprise IT and MSPs can deliver customized services across any private or public cloud, improving business performance while minimizing cloud management complexities.