Zynstra, which runs hybrid cloud solutions for small and medium sized enterprises, has completed a $3.8 million Series A funding round, bringing the total amount raised to just over $6 million. It has a so-called “hybrid” cloud solution designed for SMEs, as opposed to big tech companies.
The financing was led by Octopus Investments, and included early investors Richard Brennan, former EVP Global Marketing at Orange Group, Tom Vari, former CIO of Cable at Rogers Communications Inc. and Jon Craton, Zynstra’s Chairman and former CEO of Cramer. The company will use the cash to accelerate its products.
For a simple monthly fee Zynstra gives SMEs with up to 250 employees a full-blown IT solution that operates like an on-premise system, but has the flexibility of the cloud.
CEO Nick East says they’ve built a product “designed specifically for SMEs, not just a scaled down version of a big enterprise solution.”
It’s interesting to see a startup tackle this problem which is often ignored by much bigger cloud platforms because they focus on bigger companies.