Logo
data:post.title

Managed Service Provider for VMware Cloud on AWS, Faction Secures $14 Million in Funding

Managed Service Provider for VMware Cloud on AWS, Faction Secures $14 Million in Funding

Faction has raised USD $14 million in investment as part of its latest funding round.

The latet investment round was led by Dell Technologies Capital along with existing investors River Cities Capital Funds, Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners. Faction also secured new debt financing from ORIX Growth Capital. With latest funding round, Faction has raised USD $45 million in total five funding rounds.

Founded in 2006, Faction is a leading managed services provider for VMware Cloud on AWS, including disaster recovery and production deployments, and a provider of attached storage to VMware Cloud on AWS. With their patented technology, Faction helps their customers to migrate to multi-cloud environment and supports all the major clouds, including AWS, Azure and Google Cloud Platform.

Executive Opinion

Founder and CEO of Faction, Luke Norris, said, "Throughout 2018, Faction saw an explosion of interest in customers looking for cost-effective solutions for running VMware Cloud on AWS. We have experienced impressive growth in our Hybrid Disaster Recovery-as-a-Service and Faction Cloud Control Volumes for VMware Cloud on AWS offerings. The need for high-performance and scale-out storage that can expand with customers’ needs across clouds including Azure, AWS, Google Compute Engine and VMware Cloud on AWS is only going to increase. This investment will enable us to reach more customers faster with an even stronger portfolio of managed multi-cloud solutions."

Plan for Fund Usages

The announcement noted Gartner figures pointing to hybrid and multi-cloud market size $317 billion industry by 2022. Faction plans to expand on this opportunity with portfolio of services to solve the challenges enterprises experience as their environments expand across multiple hyperscale cloud providers.

Thus the investment will be used to broaden Faction’s Hybrid Disaster Recovery-as-a-Service (HDRaaS), enable multi-cloud storage via deeper integrations with leading storage portfolio solutions, and expand their global data center footprint.

Hybrid Disaster Recovery-as-a-Service provides a warm standby approach to Disaster Recovery with VMware Cloud on AWS. Faction's Cloud Control Volumes (CCV) centralize data in a dedicated and durable location. CCV enables cross-cloud storage with Faction private cloud, public clouds and VMware Cloud on AWS. Faction also plans to expand VMware Cloud on AWS availability zones throughout the U.S., EMEA and APAC, notes the announcement.
PC: Faction

Note: We at TechSutram take our ethics very seriously. More information about it can be found here.
Mandar Pise Opinions expressed by techsutram contributors are their own. More details

Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

No comments:

Post a Comment

    Your valuable comments are welcome. (Moderated)