French cloud firm InterCloud raises 100 million euros in a funding round
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France’s InterCloud said on Tuesday it had raised a further 100 million euros ($114.43 million) to support its international expansion in its latest fundraising round.
InterCloud, which helps companies access multiple cloud resources through a single platform, said the investment would allow it to expand its international sales team, starting in Europe, with around 50 people to be added this year alone.
Launched in 2010, InterCloud has teamed up with major cloud computing providers such as Microsoft, Amazon’s AWS and Alphabet Inc’s, Google Cloud.
The company said it also planned to use the funds for research and development, partnerships and acquisitions.
InterCloud’s existing investors Ventech and Open CNP took part in the latest capital increase led by investment firm Aleph Capital, the company said.
It had already raised 38 million euros in previous funding rounds that included investments from Orange Digital Ventures – now Orange Ventures – and Bpifrance among others.
Questions & Answers
Q.What is the primary purpose of this 100 million euro funding round for InterCloud?
What is the primary purpose of this 100 million euro funding round for InterCloud?
InterCloud plans to use the investment for international expansion, specifically by growing its sales team in Europe. The funds will also support research and development, new partnerships, and acquisitions.
Q.Which existing investors participated in InterCloud's latest funding round?
Which existing investors participated in InterCloud's latest funding round?
Existing investors Ventech and Open CNP took part in this capital increase. The round was led by the investment firm Aleph Capital, contributing to the 100 million euro total.
Q.How much funding had InterCloud raised in previous rounds before this announcement?
How much funding had InterCloud raised in previous rounds before this announcement?
InterCloud had previously secured 38 million euros in earlier funding rounds. These included investments from Orange Digital Ventures, now Orange Ventures, and Bpifrance, among other participants.
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