NEWS
Cloudian secures US $ 23m growth financing from Morgan Stanley Expansion Capital
Cloudian has closed US $ 23 million in growth financing from Morgan Stanley Expansion Capital to drive product innovation and sales and marketing initiatives to meet the rapidly growing demand for the firm ’ s AI data lake software .
Heightened enterprise demand for scalable AI-ready data management solutions has propelled Cloudian to achieve impressive growth metrics , including a 30 % ARR increase year over year .
Additionally , Cloudian has reached a significant financial milestone by achieving breakeven – reflecting the company ’ s strong operational performance and market position . to create insights and advance their AI initiatives ,” said Michael Tso , CEO and Co-Founder , Cloudian .
“ Achieving breakeven alongside this growth marks a pivotal moment in our financial journey . We are excited to partner with Morgan Stanley Expansion Capital to further our mission of providing industry-leading storage solutions .”
Cloudian ’ s HyperStore has enabled the company to meet the diverse storage needs of enterprises across various industries .
Significant investments in technology and product development have positioned Cloudian as a key player in the object storage market .
“ Cloudian ’ s innovative approach to data storage , combined with its strong customer focus , has positioned the company as a leader in the market ,” said Stanley Hua , Executive Director , Morgan Stanley Expansion Capital . “ We are delighted to support Cloudian in the next phase of growth and to help the company continue delivering exceptional value to its customers .”
“ Our product innovation and commitment to customer success have driven substantial growth as enterprises increasingly leverage Cloudian ’ s AI-ready data lake technology
Rescale saluted with success memorandum from Defense Innovation Unit
Rescale has confirmed successful completion of an HPC Modernization Program prototype evaluation for the Defense Innovation Unit ( DIU ).
As a result , DIU has issued Rescale a Success Memorandum , making it possible for Department of Defense ( DoD ) organizations seeking compute power for mission needs to contract with Rescale without needing to re-compete .
DIU evaluated Rescale in prototype usage with the DoD High Performance Computing Modernization Program ( HPCMP ).
The extensive evaluation completed over a multi-year period confirms that the Rescale cloud platform can provide secure , compliant , on-demand access to high performance computing ( HPC ) services by automating the management of state-of-the-art hybrid and multi-cloud HPC systems at scale .
In the DIU deployment , the Rescale platform was proven to offer considerable advantages for optimized , fast , efficient access to HPC systems including both on-premises data centers and through major cloud services , DIU stated in the success memo .
The capabilities provided by Rescale enhance the ability of the DoD and other federal agencies to process production and research workloads for operational , strategic , and environmental analysis , as well as the coordination of resources in an environment that meets some of the nation ’ s top security standards and regulations . It demonstrates that Rescale ’ s HPC-as-a service powers technological breakthroughs by greatly reducing the complexities of running HPC and AI computational tasks .
“ The DIU success memo is a testament to Rescale ’ s ability to support mission success for the US Department of Defense ,” said Joris Poort , CEO , Rescale .
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