YellowDog fetches £2.5m extra in Series A
In a round led by Bloc Ventures, cloud computing scheduling and orchestration management platform YellowDog has secured an additional £2.5 million in its Series A funding, reports David Penn at Finovate
This news follows the £1.7 million raised in March of last year, bringing the total raised for the company’s first round to more than £4.2 million.
The financing also featured participation from Vodafone and ARM Holdings.
YellowDog said that it will use the additional capital to scale its business and continue its successful expansion into financial services.
The company also announced that Reid Downey, an executive with ten years’ experience leading software and cloud enterprise sales of Microsoft Azure and Office365 to Fortune 500 firms, will join YellowDog’s board of directors.
“We are excited to welcome Reid to the Board and to secure this further funding given our tremendous year of growth ahead,” says YellowDog CEO Gareth Williams. “With our recent wins in the financial services market and more in the pipeline this year, we are only at the tip of the iceberg in this market.”
“The funding will enable us to support our global customer base and extend our technology into new markets such as aerospace,” he adds.
YellowDog has more than 1,500 customers in 42 countries around the world, as the firm attempts to enable businesses to accurately anticipate the computing resources required to complete complex computational workloads.
YellowDog has customers in a wide variety of verticals – from entertainment studios to financial services – whom it helps reduce cost in connectivity, which can be significant when it comes to cloud-based high-performance computing.
And in addition to providing intelligent, optimised orchestration, the Bristol-based firm’s technology also functions across multi-vendor cloud fabric, providing the high level of compute resilience that some firms, especially those in financial services, require.