Jelastic Closes $2 Million Series A Round of Financing from Notable IT Investors
Java PaaS plans growth to provide developers and SMBs with a simple way to deploy Java applications to the Cloud
Palo Alto, CA, Apr. 25, 2012 — 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 invested in Jelastic to help them scale their business to meet global demand for their PaaS.”
About Almaz Capital Partners
Almaz Capital Partners is one of the leading venture funds serving the entrepreneurs and companies with business interests in Russia and other CIS countries. The 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.
Almaz Capital Partners: www.almazcapital.com
About Foresight Ventures
Foresight Ventures invests in courageous innovation within IT and Hi-Tech projects at the seed and early stages. The fund invests into all fields of IT, from consumer internet to b2b technological solutions. Foresight Ventures is looking for solutions, which have unique technological advantages, are valuable in their IP and can be used for creating businesses which iare able to change existing markets.
Foresight Ventures: foresight.vc
Jelastic, Inc., a startup company based in Palo Alto, Calif., makes the Java server hosting platform for developers and hosting service providers. Jelastic is the only PaaS offering designed specifically for hosting service providers to deploy and make available to their customers. Jelastic automatically scales Java applications and allocates server resources required by applications, thus delivering the true next generation Java cloud computing. You can learn more about Jelastic or sign-up for the service at http://jelastic.com.