Cloudian Secures $23M Growth Financing from Morgan Stanley Expansion Capital, Reports 30% ARR Growth and Achieves Breakeven
25 June 2024 - 11:51PM
Cloudian, the leader in secure S3-compatible AI data lake
platforms, announced today that it has closed $23 million in growth
financing from Morgan Stanley Expansion Capital. Cloudian will use
the proceeds to drive product innovation and sales and marketing
initiatives to meet the rapidly growing demand for the firm’s AI
data lake software.
Heightened enterprise demand for scalable AI-ready data
management solutions has propelled Cloudian to achieve impressive
growth metrics, including a 30% increase in Annual Recurring
Revenue (ARR) year over year. Additionally, Cloudian has reached a
significant financial milestone by achieving breakeven, reflecting
the company's strong operational performance and market
position.
“Our product innovation and commitment to customer success have
driven substantial growth as enterprises increasingly leverage
Cloudian’s AI-ready data lake technology to create insights and
advance their AI initiatives,” said Michael Tso, CEO and Co-Founder
of Cloudian. “Achieving breakeven alongside this growth marks a
pivotal moment in our financial journey. We are excited to partner
with Morgan Stanley Expansion Capital to further our mission of
providing industry-leading storage solutions.”
Cloudian's HyperStore, known for its seamless scalability,
industry leading S3 compatibility, and robust security features,
has enabled the company to meet the diverse storage needs of
enterprises across various industries, including healthcare,
finance, media, and government. Significant investments in
technology and product development have positioned Cloudian as a
key player in the object storage market.
“Cloudian's innovative approach to data storage, combined with
its strong customer focus, has positioned the company as a leader
in the market,” said Stanley Hua, Executive Director of Morgan
Stanley Expansion Capital. “We are delighted to support Cloudian in
the next phase of growth and to help the company continue
delivering exceptional value to its customers.”
On-premises AI data lakes from Cloudian help enterprises
worldwide securely turn information into insight and develop
proprietary AI models while fully addressing data sovereignty
requirements. Proven with popular AI and data analytics tools
including PyTorch, Tensor Flow, Kafka, and Druid, Cloudian
addresses storage needs across the entire data lifecycle. Cloudian
solutions are available from AWS Marketplace, HPE GreenLake,
Lenovo, and from Cloudian reseller partners worldwide.
About Cloudian
Cloudian is the leading provider of secure S3-compatible AI data
lake platforms. Offering military-grade security, infinite
scalability, and seamless cloud integration, Cloudian’s AI-ready
data lake optimizes data access, meets data sovereignty
requirements, and reduces costs by consolidating information into a
single, cloud-like storage platform. Cloudian’s geo-distributed
architecture manages and protects object and file data at the edge,
core, and cloud for both traditional and modern applications. Learn
more at cloudian.com.
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private
investment platform within Morgan Stanley Investment Management.
Morgan Stanley Expansion Capital targets growth equity and credit
investments within consumer, technology, healthcare, and other
high-growth sectors. For over three decades, Morgan Stanley
Expansion Capital has successfully pursued growth investment
opportunities and has completed investments in over 200 companies,
leveraging the global brand and network of Morgan Stanley.
Media Contact
Jon Toor
mediainquiries@cloudian.com