Jelastic (http://jelastic.com), a Platform-as-a-Service for Java application hosting, announced today that it has secured an investment of $2 Million to fuel its rapid growth.
Almaz Capital Partners, a venture capital fund with offices in Moscow and Silicon Valley, and Foresight Ventures , a venture capital fund focused on the IT sector, led the Series A round of financing. The funds will support the acceleration of Jelastic’s growth, new partner integration and the aggressive pursuit of market opportunities.
The Series A funding round brings Jelastic’s total financing to $2.5 Million. In December of 2012, Jelastic received seed funding from venture fund Runa Capital. Jelastic recently celebrated reaching the 15,000 unique users milestone, just 7 months after its beta launch.
Jelastic is the next-generation Java hosting Cloud platform. Early generation Java computing platforms, such as Google App Engine, Heroku, Windows Azure, etc. required developers to manage virtual machines or purpose-build their applications to work in the Cloud. For developers this meant additional expenses and severely limiting restrictions.
Jelastic uses only standard software stacks, eliminating worries about code changes or lock-in. Jelastic can natively run any Java application and is available through a fast growing network of hosting companies around the globe, giving developers greater flexibility and choice. It is currently available in the US (through hosting provider Servint), Europe (Dogado/HostEurope) and Russia (Rusonyx).
“Jelastic is a platform unlike any other. It makes it really easy to deploy application to the Cloud without having to learn any custom app servers, make code changes or having to worry about getting locked in. Just upload. Deploy. And enjoy,” said Ruslan Synytsky, CEO, Jelastic.
“The demand for Jelastic has confirmed our vision for Jelastic. This funding will help us continue to meet demand while aggressively developing the platform and growing our team.”
“The market for the PaaS is huge, with low projections of $9.8 Billion over the next five years. Jelastic is taking aim at the very heart of that market and offering a platform that actually does make it easier to deploy applications to the Cloud,” says Andrey Kazakov, Partner, Foresight Ventures.
“They have a solid and well-rounded technical team and strong market traction. We are excited to be a part of their growth.”
“Up until recently, there was no real, simple solution to deploying Java applications. Jelastic eliminated many of the roadblocks that were inherent in previous solutions. With Jelastic, you can be up and running in minutes and not hours,” says Dr. Alexander Galitsky, co-founder and managing partner, Almaz Capital.
“Following our strategy to support global companies we invest in Jelastic to help them scale their business to meet global demand for their PaaS.”
About «Almaz Capital Partners»
«Almaz Capital Partners» fund is one of the leading venture funds serving the entrepreneurs and companies with business interests in Russia and other CIS countries. Almaz fund mainly invests in the rapidly increasing sectors of the economy including technological, media and communication firms. With its great experience of work in Russia and other CIS countries, the Almaz Capital Partners fund has a wide network of partners in Silicon Valley. Investment portfolio of the fund includes such companies, as Qik (was purchased by Skype, and now is a part of Microsoft), «Yandex», Parallels, Acumatica, Alawar, AlterGeo, Apollo Project, Flirtic, TravelMenu and Vyatta.
Site of «Almaz Capital Partners» company: www.almazcapital.com
About «Foresight Ventures»
Foresight Ventures is an IT focused early stage fund, with offices in Moscow and Silicon Valley. Foresight Ventures invests IT companies from a wide set of verticals, ranging from consumer internet solutions to niche enterprise products. Investment portfolio of the fund includes such companies as: AppStack, DealAngel & Yam.
The site of the company «Foresight Ventures»: foresight.vc
Jelastic company was founded in 2010 with a purpose to create unique offers in the cloud service market. The main sphere of activity is providing of the cloud hosting already existing Java applications. Platform as a service, developed by the company, makes the process of deploying Java applications to the cloud much more easier thanks to the convenient UI and supported technologies. Jelastic PaaS is the only platform which provides vertical scaling, 100% support of standard technology stack and high availability features. Jelastic cooperates with largest hosting companies from different countries, so developers can choose hosters. In December 2010 Jelastic attracted investment from venture fund Runa Capital.
The site of the company “Jelastic”: jelastic.com