Morgan Stanley Expansion Capital has signed a $23m growth financing deal with Cloudian, a developer in secure S3-compatible AI data lake technologies.
In order to address the quickly increasing demand for the company’s AI data lake software, Cloudian will utilise the revenues to fuel product innovation as well as sales and marketing operations.
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An remaining 30% annual recurring revenue (ARR) increase has been one of Cloudian’s growth KPIs, driven by increased enterprise demand for scalable AI-ready data management solutions.
Furthermore, Cloudian has achieved a notable financial benchmark by breaking even, which is indicative of the business’s robust operational performance and competitive standing.
Cloudian’s HyperStore, which is noted for its smooth scalability, S3 compatibility, and rigorous security features, has allowed the company to address the unique storage demands of enterprises from a variety of industries, including healthcare, finance, media, and government.
It has made major expenditures in technology and product development, establishing itself as an influential player in the object storage market.
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By GlobalDataMoreover, Cloudian’s on-premises AI data lakes enable businesses globally to safely transform data into insights and create exclusive AI models while adhering to data sovereignty regulations.
Proven with well-known AI and data analytics tools like Tensor Flow, PyTorch, Druid, and Kafka, Cloudian takes care of storage requirements for all stages of the data lifecycle.
AWS Marketplace, HPE GreenLake, Lenovo, and Cloudian reseller partners globally offer Cloudian solutions.
Michael Tso, CEO, and co-founder of Cloudian stated: “Our product innovation and commitment to customer success have driven substantial growth as enterprises increasingly leverage Cloudian’s AI-ready data lake technology to create insights and advance their AI initiatives. Achieving breakeven alongside this growth marks a pivotal moment in our financial journey. We are excited to partner with Morgan Stanley Expansion Capital to further our mission of providing industry-leading storage solutions.”
“Cloudian’s innovative approach to data storage, combined with its strong customer focus, has positioned the company as a leader in the market,” added Stanley Hua, executive director of Morgan Stanley Expansion Capital.
“We are delighted to support Cloudian in the next phase of growth and to help the company continue delivering exceptional value to its customers.”
