SAP Leads $40M Venture Round for Cloud Solutions ProviderSAP Leads $40M Venture Round for Cloud Solutions Provider
SAP has made another commitment to the cloud by leading a $40 million Series D investment round for cloud solutions provider Virtustream, Inc. What will Virtustream do with the money?
September 10, 2013
Virtustream said it will use the funding for additional infrastructure as a service (IaaS) growth, as well as furthering the development of its xStream cloud management software for both the enterprise and its global service provider network.
Virtustream CEO and Chairman Rodney Rogers said in his prepared remarks that both companies share a vision on cloud solutions in the enterprise market.
“This round of funding will accelerate our ability to anticipate the needs of the enterprise, and to develop and deploy market-leading private, public and hybrid cloud solutions to service these complex needs,” he said.
Virtustream said its cloud software and IaaS offerings were built to run mission-critical enterprise applications, keeping companies like SAP in mind. SAP certified the Virtustream platform to deploy the full line of business applications from company, such as customer relationship management, enterprise resource planning, product lifecycle, supply chain and corporate services.
“Virtustream has been very successful innovating a technology platform uniquely equipped for running mission critical enterprise applications, such as ours, with the simplicity of the cloud,” said Bjoern Goerke, EVP and Corporate Officer, SAP HANA Enterprise Cloud at SAP AG, in his prepared remarks. “This investment underscores our commitment to the enablement and delivery of the finest cloud-based enterprise software and service solutions in the world today.”
SAP co-CEO Bill McDermott told attendees at Sapphire Now this year that SAP’s top priority is cloud.
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