ASX-listed cloud infrastructure-as-a-service (IaaS) provider, AUCloud, has successfully closed an $8.5m capital raise, marking an important milestone in the company’s growth journey.
The capital infusion was fully subscribed and underwritten by NextDC, businesswoman Cathie Reid, and newly appointed CEO of AUCloud, Peter Maloney, according to a report from ARN.
Established as an industry leader, AUCloud offers IaaS solutions, facilitating businesses with their cloud computing needs. It specialises in delivering highly secure and sovereign cloud services, aiding federal government agencies and private corporations to transition from on-premises infrastructure to flexible multi-cloud models.
The fresh funding will be channelled towards expanding the firm’s sales and marketing prowess. The main thrust is to seize the positive momentum in the market, which will enable the company to venture deeper into the cyber security and multi-cloud sectors.
In addition to sales and marketing, the Australian-based company is intent on furthering its cyber security and multi-cloud capabilities. Earlier this year, the company significantly invested in developing accredited sovereign cloud and cyber security capabilities nationally, setting up sovereign zones in Canberra, Sydney, Brisbane, and Melbourne.
AUCloud CEO Peter Maloney said, “The team at AUCloud appreciates the ongoing shareholder confidence in our business and support of our strategy to accelerate the growth of our sovereign cloud and cyber security businesses.” He continued to elaborate on the company’s mission, stating that AUCloud is dedicated to helping Australian companies to prevent, detect, and respond to cyber security events.
Previously, in April, AUCloud bolstered its executive team with the appointment of Robert Ovens as its inaugural chief product officer. Tasked with driving business growth through new product solutions and transformations, Ovens is expected to play a pivotal role in the company’s strategic product development.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
