gridscale receives €7 million in growth capital
Cologne, Germany — gridscale, the Cologne-based provider of innovative Infrastructure-as-a-Service and Platform-as-a-Service (IaaS and PaaS) solutions, receives €7 million in new capital in its Series A financing round. The round is led by Endeit Capital and EnBW New Ventures. In addition, the existing investors EnjoyVenture with the BLSW Seed and Growth Fund as well as the High-Tech Gründerfonds participated. The capital now available will be used for the further development of gridscale in terms of technology and personnel as well as for the internationalization of the business.
gridscale offers customers the possibility to flexibly realize complex hosting and infrastructure projects. The already high degree of automation of the platform will be further expanded by gridscale. Here, the company adheres to the principle of real-time scaling of the infrastructure with minute-by-minute billing. Customers such as Controlware, KOMSA, Butlers or the Karlsruher Verkehrsbetriebe actually only pay for the resources they actually need when they use them.
The company will expand its PaaS application offerings and provide additional services to indirect sales channels. System houses and agencies already make use of gridscale’s intelligent components. The white label solution addresses the specific needs of these partners and offers them the opportunity to become reliable cloud providers themselves.
“We are very convinced of the potential of gridscale’s technology and team. gridscale has positioned itself with an innovative solution in the $50 billion and high-growth global IaaS and PaaS market. We are very proud to now be part of gridscale and to be able to accompany them in their brand positioning and international expansion,” emphasizes Martijn Hamann, Partner at Endeit Capital. Holger Wagner, Senior Investment Manager at EnBW New Ventures adds: “The team combines technical expertise, market knowledge and a feel for the specific requirements of customers. We are pleased to be part of this development.”
Henrik Hasenkamp, co-founder and CEO of gridscale, is pleased with the successful closing of the financing round: “In the end, people always work together. Endeit Capital and EnBW New Ventures stood out from a large number of VCs that showed equal interest in the technology and the team — a perfect match to our existing shareholders. With the support of Endeit Capital and EnBW New Ventures, we are in a position to once again significantly accelerate our growth while simultaneously releasing a variety of new products and services. This is because we want to establish ourselves as a secure, scalable and reliable cloud service provider in other parts of Europe in particular.”
gridscale is a European IaaS and PaaS provider and creates the basis for sophisticated cloud solutions with its innovative technology. Headquartered in Cologne, Germany, the company’s highly automated architecture offers forward-looking and digitally oriented users a solution in which they can flexibly choose between a variety of Infrastructure-as-a-Service components (e.g., distributed storage solutions, load balancers and virtual servers) and complementary Platform-as-a-Service elements (e.g., automatically scaling databases and IoT components). gridscale was founded in 2014 by Henrik Hasenkamp, Michael Balser and Torsten Urbas. The 2018 Crisp Vendor Universe Report sees gridscale as an innovator in cloud computing services.
With its innovative technology, gridscale takes cloud computing to a new level-intelligent components of the gridscale cloud connect seamlessly with all other enterprise IT resources and extend the existing infrastructure. The required cloud resources are available to users in real time and can be easily integrated into existing company and system processes, also thanks to the intuitive user interface. This allows gridscale customers to focus on their core competencies instead of dealing with the operation of their cloud infrastructure, while still maintaining an overview at all times thanks to transparent processing and minute-by-minute billing.