Jelastic cloud hosting platform for Java-applications attracted $2 M in series A financing from Almaz Capital Partners and Foresight Ventures venture capital funds ($1.5 M and $0.5 M respectively).
Funds’ support will help the company to strengthen its position in the platform-as-service market (PaaS), significantly expand the number of countries in which the system is commercially available, as well as attract new customers, build quality technical support, implementation and maintenance.
Jelastic platform allows both automatically and manually create and manage Java-applications. The technology supports the deployment of standard Java-based applications without any restrictions on the use of libraries, and without being tied to expensive proprietary software of cloud services specific provider.
Jelastic uses only standard server solutions and does not require changing the application code. Any application written in the world's most popular programming language - Java - can be run on Jelastic. In addition, Jelastic is available through a growing network of web hosting companies around the world, so the developer can choose the hosting service in the country and on those conditions that are closest to him. Today Jelastic is available in the U.S. (hosting provider - ServInt), Europe (Dogado, Host Europe) and Russia (Rusoniks). With the help of Jelastic large hosting providers will be able to retain its customer base and compete with Amazon and Azure.
In just six months existence Jelastic attracted more than 15 thousand users. Until this time there wasn’t a simple and universal solution for deploying Java-based applications in the cloud, Jelastic managed to eliminate all the shortcomings of his predecessors. Now it requires minutes with Jelastic, not hours, as before - Alexander Galitsky, the managing partner of Almaz Capital said.
The PaaS market (Platform as a Service) has great potential; according to conservative estimates it is about $ 9.8 B within the next five years. Jelastic is at the epicenter of this market and offers a platform that greatly simplifies the process of deploying applications in the cloud - Andrey Kazakov, the managing partner of Foresight Ventures commented on.
In December 2010 Jelastic received seed investment from the Runa Capital venture fund.