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Zynstra completes $3.8 Million Series A funding
September 2013 by Marc Jacob
Zynstra, a provider of hybrid cloud solutions for small and medium sized enterprises (SMEs), has announced the completion of a $3.8 million Series A funding round, bringing the total amount raised to just over $6 million. 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 funds to accelerate innovation and expansion of the channel.
Zynstra lifted the covers on their offering in July this year, two years after it began the development of a hybrid cloud solution designed to redress the balance between small and medium sized enterprises and larger companies when it comes to IT. For a monthly fee and with no up-front cost, Zynstra gives SMEs with up to 250 employees a comprehensive, fully managed IT solution that combines the reliability and security of on-premise IT with the economics and flexibility of the cloud. This hybrid approach to the cloud is already favoured by many large enterprises but to date has not been economically viable for smaller companies.
