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RackWare raises £5m to expand cloud-based services

RackWare has raised $2.3 million (£1.7 million) in funding to expand its services and grow its international presence.

The takes the company's total funding to $7 million (£5.1 million) and was led by the Kickstart Seed Fund and Osage Venture Partners, both of which were existing investors.

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"Our unique approach to intelligent cloud automation is proven in implementations across a range of verticals," said RackWare CEO Sash Sunkara. "The additional capital we are announcing today will help us extend the experience to additional markets and further fuel the mass adoption of our cloud technology."

The money will also reportedly be used to launch a new version of its flagship Management Module service, although further details are yet to be released.

RackWare claims its products provide companies with greater flexibility to shift between private, public and hybrid clouds, which the company believes can lead to cost savings of 40-50 per cent.

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When equipping themselves with one of RackWare's tools, new users can choose to take a fully automated approach or opt for one of the professional services that aid migration.

According to its own reports, RackWare's customer base has grown by 75 per cent in the last year.