OnApp Goes Big with $20M in Funding

(Ping! Zine Web Tech Magazine) – Big news for cloud platform provider OnApp: On Wednesday, the company revealed that it had collected $20 million in funding after holding a Series B round.

In press release, company CEO Ditlev Bredahl reflected upon the provider’s history. “In 2010, we set out to build a turnkey platform to make it easy for service providers to create profitable cloud services,” Bredahl commented.

“Our customers now run some of the fastest growing cloud services out there, with an average annual growth rate of over 80%,” Bredahl went on to say.

The CEO, meanwhile, also noted OnApp’s Marketplace, pointing to what he described as the emergence of a “new breed of Virtual Service Providers” which he said were creating more cloud-based businesses.

Following its emergence into the hosting industry, OnApp has kept busy announcing a number of new products including its own content distribution network. The company also provides a storage platform.