Cloudian Secures $23 Million, Total at $256 Million

Cloudian, Inc. closed $23 million in growth financing from Morgan Stanley Expansion Capital.

It will use the proceeds to drive product innovation and sales and marketing initiatives to meet the rapidly growing demand for the firm’s AI data lake software.

Heightened enterprise demand for scalable AI-ready data management solutions has propelled the start-up to achieve growth metrics, including a 30% increase in Annual Recurring Revenue (ARR) Y/Y. Additionally, the company has reached a significant financial milestone by achieving breakeven, reflecting the company’s strong operational performance and market position.

“Our product innovation and commitment to customer success have driven substantial growth as enterprises increasingly leverage Cloudian’s AI-ready data lake technology to create insights and advance their AI initiatives,” said Michael Tso, CEO and co-founder. “Achieving breakeven alongside this growth marks a pivotal moment in our financial journey. We are excited to partner with Morgan Stanley Expansion Capital to further our mission of providing industry-leading storage solutions.”

Cloudian’s HyperStore, known for its seamless scalability, S3 compatibility, and security features, has enabled the company to meet the diverse storage needs of enterprises across various industries, including healthcare, finance, media, and government. Significant investments in technology and product development have positioned Cloudian as a key player in the object storage market.

“Cloudian’s innovative approach to data storage, combined with its strong customer focus, has positioned the company as a leader in the market,” said Stanley Hua, executive director, Morgan Stanley Expansion Capital. “We are delighted to support Cloudian in the next phase of growth and to help the company continue delivering exceptional value to its customers.”

On-premises AI data lakes from Cloudian help enterprises WW securely turn information into insight and develop proprietary AI models while fully addressing data sovereignty requirements. Proven with popular AI and data analytics tools including PyTorch, Tensor Flow, Kafka, and Druid, the start-up addresses storage needs across the entire data lifecycle. Its solutions are available from AWS Marketplace, HPE GreenLake, Lenovo, and its reseller partners WW.