Cologne-based gridscale which provides innovative IaaS and PaaS (Infrastructure-as-a-Service and Platform-as-a-Service) solutions has recently made it to the headlines.
Secures €7 million funding
In a recent development, the German startup has secured €7 million growth capital in Series A funding round led by Endeit Capital and EnBW New Ventures along with participation from existing investors such as EnjoyVenture (BLSW Seed- & Wachstumsfonds) and High-Tech Gründerfonds. For Endeit Capital, this is another investment in the SaaS domain, after investments in VirtuaGym (Netherlands) and Gastrofix (Germany).
For gridscale, this funding will be used for the further development of the platform and its global expansion.
It will let gridscale expand its range of PaaS applications and other services, especially for indirect sales channels. gridscale’s intelligent intuitive white label solutions are used by IT system houses as well as agencies. It addresses the needs of partners and offers them the chance to become reliable and state-of-the-art cloud service providers.
Founded in 2014 by Carsten Dittmann, Henrik Hasenkamp, Marc Dittmann, Michael Balser, Tobias Schiffer and Torsten Urbas in Cologne, Germany, gridscale creates sophisticated cloud solutions with innovative technology. It offers future and digitally-oriented users a highly automated solution so that they can choose between a multitude of IaaS and complementary PaaS elements.
It lets customers create, implement and manage complex hosting as well as infrastructure projects easily. With this service, high-profile German customers including Butlers, KOMSA, Controlware and Karlsruher Verkehrsbetriebe pay only for the IaaS and PaaS resources that they need only for the specific time these are required.
gridscale takes cloud computing to a new level with its intelligent components. The required cloud resources are available to users in real time and can be easily integrated into the existing company and system processes. This enables gridscale customers focus on their core competencies instead of having to deal with the operation of their cloud infrastructure, while still maintaining an overview at all times thanks to transparent processing and per-minute billing at gridscale.
“We greatly believe in the potential of the gridscale team and their technology. gridscale brings innovative impulses to the fast-growing $50 billion IaaS & PaaS global cloud market,” says Martijn Hamann, Partner at Endeit Capital. “We are proud to be part of gridscale’s growth story and to be able to support them in brand positioning and international expansion.” Holger Wagner, Senior Investment Manager at EnBW New Ventures adds: “The team combines technical expertise, market knowledge and a feel for the specific requirements of their customers. We are looking forward to being part of this development.”
Henrik Hasenkamp, co-founder and CEO of gridscale, is delighted to announce the successful conclusion of the financing round: “In the end, it’s always about people working together. Endeit Capital and EnBW New Ventures stood out from the crowd of VCs who showed equal interest in the technology and the team – a perfect match with our existing shareholders. With the support of Endeit Capital and EnBW New Ventures, we will be able to accelerate our growth significantly and release a variety of new products and services simultaneously. We want to further establish ourselves as a secure, scalable and reliable cloud service provider, especially in other parts of Europe.”
Stay tuned to Silicon Canals for more updates in the tech startup world.