German cloud management software firm Zimory secures $20M in funding

Summary:The German cloud management software firm announced on Monday it has secured funding from its newest investor, Deutsche Boerse, among others.

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Berlin-based Zimory, a maker of cloud management solutions to enterprises and cloud "brokers," announced on Monday that it has secured $20 million in its latest round of funding talks.

Founded in 2007, Zimory provides the stack between cloud Infrastructure-as-a-Service (IaaS) providers and cloud service providers. Its cloud management suite allows communications service providers, enterprises and cloud brokers alike to, according to the firm, "fully leverage the power and elasticity of cloud computing" by drawing in additional resources when they are needed.

Zimory also has offices in Erfurt, Germany and Minsk, Belarus. 

Zimory's newest investor, Deutsche Boerse, powered the round, in addition to its other long-standing investors, including Creathor Venture, High-Tech Gruenderfonds (HTGF), IBB Beteiligungsgesellschaft (IBB), KFW and Deutsche Telekom's venture capital arm, T-Venture.

In early July, Deutsche Boerse, acting as part-financier, part-business partner to Zimory, announced it would launch an independent cloud services marketplace, dubbed the Deutsche Boerse Cloud Exchange. This, the company said, will enable IT resources to be traded in similar fashion to securities and energy. 

Zimory said in the last year it had quadrupled revenues, created a U.S. subsidiary in New York City and made "significant enhancements" to its product suite, said chief executive Ruediger Baumann.

"The funding will enable us to address the strong demand for Zimory’s cloud management software by continuing to expand our resources and accelerate our sales, marketing and product development initiatives. Together with Deutsche Boerse Cloud Exchange and our investors, Zimory will become one of the world's cloud leaders for business," he concluded.

Topics: Cloud, Networking

About

Zack Whittaker writes for ZDNet, CNET, and CBS News. He is based in New York City.

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