- French cloud connectivity startup InterCloud has raised $113 million in a Series D round.
- The company works with the likes of AWS, Google Cloud, and Microsoft Azure.
- Check out the 10-slide pitch deck InterCloud used to raise the fresh funds below.
InterCloud, a cloud connectivity startup that works with the likes of AWS, Microsoft Azure, and Google Cloud, has raised $113 million in fresh funds.
The French startup, which was founded in 2010, manages end-to-end connectivity with the world’s largest cloud providers to ensure that traffic to corporate apps is monitored and controlled. InterCloud aims to make connecting to cloud providers a much less complex process.
The company said the COVID-19 pandemic had led to some of its clients reducing their activity but around half increased their cloud usage as they looked to ensure staff could work remotely, worldwide.
It’s part of a wider trend of enterprises increasingly using software-defined cloud interconnect (SDCI) services to connect to public clouds, which provide greater security and automation for businesses, according to Jérôme Dilouya, InterCloud’s CEO.
“Companies understand they need connectivity for mission-critical applications,” Dilouya told Insider. “Now more than half of workloads are in the cloud and this was not the case five years ago.” Enterprise use of public cloud services is expected to grow around 24% each year, according to research from Gartner.
The next frontier has become cloud sovereignty and security, Dilouya added. For companies in Europe, most cloud providers are based in the US or China, giving them limited options in terms of the information that is shared across geographies.
InterCloud hopes the customer demand for local hosting services will help drive its growth. The startup aims to use the fresh funds to pursue potential M&A deals as well as to build out additional services to its existing platform. The Paris-based firm also wants to double its headcount to more than 200 in the next 18 months, Dilouya said.
InterCloud’s Series D was led by Aleph Capital, with participation from existing investors Ventech and Open CNP, bringing total funding to $156 million.
Check out the company’s Series D deck below:
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