Cloud computing and systems software provider Joyent has secured $85 million in venture capital funding to help turn its innovative ideas into products and services.
The firm looks set to use the mammoth cash boost to roll out a series of new cloud offerings in an attempt to eat into Amazon's lead in this market.
We are delighted to make this strategic investment in a company that is providing solutions to some of the toughest problems in cloud computing.
The European venture capital firm Weather Investment II is responsible for the majority of the funding, with Spanish telco Telefonica serving as a strategic investor.
"We see the demand for consistent global services regardless of how many countries our customers are operating in," said David Young, Joyent's CEO.
"This funding will enable Joyent to build out a global compute offering to assist customers in expanding consistent software, support and services to their clients."
Joyent's different approach to the implementation of cloud computing was the main driver behind the investment, according to the investors.
"We believe that Joyent's unique approach to cloud and systems solutions provides an edge compared to other providers," said Khaled Bichara, co-CEO of Accelero Capital.
"We are delighted to make this strategic investment in a company that is providing solutions to some of the toughest problems in cloud computing, such as cloud performance, resiliency and security, thereby unleashing the full potential of the next generation of computing."
-
‘If you want to look like a flesh-bound chatbot, then by all means use an AI teleprompter’: Amazon banned candidates from using AI tools during interviews – here’s why you should never use them to secure a jobNews Amazon has banned the use of AI tools during the interview process – and it’s not the only major firm cracking down on the trend.
-
Amazon's RTO mandate could spark a talent exodusNews A survey of Amazon staff suggests plenty remain unhappy about returning to the office next year
-
Amazon's RTO mandate just hit a major roadblock – it doesn’t have enough office spaceNews The company has told staff in several locations that it won't have room for them all in time
-
“There are other companies around”: AWS CEO Matt Garman says employees pushing back on RTO mandates should quitNews AWS CEO Matt Garman says employees pushing back on RTO mandates should quit
-
Business execs just said the quiet part out loud on RTO mandates — A quarter admit forcing staff back into the office was meant to make them quitNews Companies know staff don't want to go back to the office, and that may be part of their plan with RTO mandates
-
Microsoft tells staff it won’t follow Amazon or Dell on enforcing a return to the office – but there’s a catchNews While other big tech companies are forcing reluctant workforces back into the office, Microsoft isn’t following suit
-
Amazon workers aren’t happy with the company’s controversial RTO scheme – and they’re making their voices heardNews An internal staff survey at Amazon shows many workers are unhappy about the prospect of a full return to the office
-
Amazon set a goal to reach 100% renewable energy by 2030 – it reached it seven years earlyNews The tech giant has rapidly accelerated renewable energy investment in recent years
