Today, Zynstra announced that it has completed an $8.4 million Series B funding round. This brings the total for the company’s first public year to $12.5 million. In a release today, Zynstra representatives explained that this funding will be used primarily to develop the company’s UK programs, as well as branch out into the North American Channel.
Zynstra received this funding primarily from Octopus Investments, a UK-based firm with over 50,000 current investors. For the Octopus Investments team, approval of the Zynstra funding was an easy yes: “What we’ve seen proves that this really is the right time for this technology in the SMB market. The UK has seen fantastic development and we’re confident that the team will bring the same success to North America when they launch in that market. We’re delighted to offer our continued investment and support to Zynstra,” said Frederic Lardieg, a member of the Ventures team at Octopus Investments.
It has already been a busy 12 months for Zynstra, who, one year ago released its hybrid cloud solution, and has already released three new tools for its hybrid suite in 2014. In addition, the company was recently recognized for the Most Innovative Product for SMBs at the 2014 UK Cloud Awards.
“When we started developing our initial offering three years ago, we knew we had a great solution. Since then the market has moved relentlessly in our direction, embracing a hybrid approach to IT,” said Zynstra co-founder and CEO Nick East. “Businesses are reconsidering the way they purchase technology – seeking a significantly lower administrative burden, greater flexibility and a predictable opex payment model. At the same time, we are facing one of the largest server infrastructure refreshes of recent times when the Windows Server 2003 platform reaches the end of support in July 2015. It’s a compelling time to consider refreshing an IT estate, and a hybrid approach is becoming the new norm.”
SMB Nation is pleased to have Zynstra representative, Rhett Ryder, on this week’s webinar, July 10 from 1-2pm PDT. Sign up at: https://www1.gotomeeting.com/register/358866673 to ask him your questions about Zynstra, Hybrid Cloud, and more!
