HyperGrid Closed $25 Million Series C Round

HyperGrid, Inc. announced the closing of a $25 million series C round of funding co-led by new investor, HighBar Partners and current investor Atlantic Bridge Capital, and participated in by current investor Acero Capital.

The new round will be used to drive product development, expand the reach for its cloud management solution, HyperCloud, and support the company’s base of enterprise and MSP customers.

“Our completeness of vision, our team and differentiated technology have been well-received within the market,” said Nariman Teymourian, COB and CEO, HyperGrid. “With the help of our investment partners, we will look to expand the reach of our cloud expertise and industry-leading hybrid cloud management solution to help businesses around the globe with cloud adoption.“

Building upon the company’s successful 2017, HyperGrid has accelerated growth by further penetrating the U.S. market and establishing a foothold in APAC and EMEA, resulting in a year-over-year increase in revenue of 300% across its enterprise and MSP customer base.

HyperCloud is available as a SaaS offering or can be deployed as software on any cloud or on-premises environment to provide customers maximum flexibility in enabling their cloud journey.

Since its launch in February 2018, over 100 customers have adopted HyperCloud SaaS. This has enabled HyperGrid to differentiate itself from competitors which primarily focus on narrower approaches. As a result, the company was identified as one of CRN Top 10 Cloud Computing start-ups for 2018.

Additionally, HyperCloud, an intelligent cloud management solution, was rated one of the top three solutions based on the depth of its capabilities by Forrester in the Q2 2018 Hybrid Cloud Management Wave Report.

“As with many developing markets, the cloud management market has seen its fair share of promises and far fewer viable solutions, but HyperGrid’s solution is worthy of the hype,” said John Kim, co-founder and managing partner, HighBar Partners. “HyperGrid’s technology and unique software-defined cloud approach are the real-deal, offering a robust set of features that can help customers throughout their cloud migration and usage lifecycle while delivering value back to the business at every phase, not just saving money on their cloud bill. This, combined with Nariman’s vision and his team, have put them in prime position to overtake conventional cloud management solutions as market adoption accelerates.”

“Businesses migrating to public cloud quickly find that managing cloud spend is only one of the challenges they will face,” said Kevin Dillon, managing partner, Atlantic Bridge Capital. “HyperGrid’s technology uniquely delivers on the promise of hybrid cloud management through turnkey capabilities to simplify and automate traditionally complex processes for cloud planning and optimal workload placement in addition to proactively optimizing cost and enforcing security based on best-practices. This holistic approach is critical for businesses to succeed with their public cloud adoption and digital transformation projects.“

“Businesses evaluating hybrid cloud management solutions often find it difficult to understand which technologies truly meet their needs because there is a certain level of ‘sameness’ in the feature sets and marketing that has developed,” said Rami Elkhatib, general partner, Acero Capital. “HyperGrid’s vision for innovating to move beyond the traditional passive cloud cost management and reporting core functions, and the team’s ability to deliver truly differentiated proactive, recommendation-driven approach to managing private and public clouds, give us great confidence that the company can deliver far more value to its customers than just a slight dip in their cloud bills.”

Teymourian and co-founder and chief product officer Manoj Nair lead a team of professionals with infrastructure software and cloud experience, including leadership positions at companies such as HPE, Microsoft, VMware, EMC, Dell and MobileIron. He brings a start-up track record having led five companies to acquisitions resulting in more than $1 billion in exits.

Nair brings experience in product development and strategy having served as GM and VP of product management for HPE’s converged systems group, SVP and GM of identity and cloud at RSA and SVP strategy, R&D for EMC federation cloud efforts, prior to co-founding HyperGrid.

HyperCloud enables businesses to embrace public clouds and drive their digital transformation via a set of functionalities to discover and plan cloud migrations, optimize costs, secure resource and scale operations in the public cloud. It has an app-centric, modular approach that enables businesses to scale their cloud management capabilities within a common framework that provides centralized control and management of all private and public clouds and eliminates the need for ongoing training.

HyperCloud analytics is powered by its database of more than 400 million data points across the major public clouds enabling instantaneous recommendations for optimizing new and existing applications using multi-dimensional analysis of factors such as cost, performance and compliance. It also analyzes past cloud usage to understand customer needs and speed service delivery by eliminating manual processes. As a result, enterprise IT and MSPs can deliver customized services across any private or public cloud, improving business performance while minimizing cloud management complexities.