Intel Capital Leads $17.5 Million Funding Round for Cloud Startup

August 3, 2016, 12:20 PM UTC
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Velostrata, a company claiming it can help business customers run some computing loads internally and some on Amazon or Microsoft public clouds, now has $17.5 million in fresh funding in a round led by Intel Capital (INTC).

In March, the company announced its ability to move workloads from private data centers to Amazon Web Services (and presumably back again), and now the company says its newest product can do the same with Microsoft Azure public cloud. Velostrata is based in San Mateo, Calif., with R&D offices in Israel.

From the funding release:

Velostrata’s patent-pending technology uniquely decouples compute from storage, making it possible to move compute to the cloud in minutes—while controlling and automating where storage resides: whether in a private cloud, public or a combination of both. With Velostrata’s agentless solution, there is no need to modify workload images or manage lengthy replications and complex cutover processes.

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The ability to let businesses keep running some workloads internally while offloading other jobs to the pooled resources of a public cloud is an attractive proposition to risk-averse customers. That whole “hybrid cloud” model is touted by almost every tech vendor, including IBM (IBM), Microsoft (MSFT), Hewlett-Packard Enterprise (HPE), VMware (VMW), and others.

Even public cloud giants Amazon Web Services and Google Cloud Platform are talking more about hybrid computing.

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The money will be used to market Velostrata’s technology to midmarket and big companies.

In addition to Intel Capital, current backers Norwest Venture Partners and 83 North contributed to this round, which brings total funding to about $31 million.