Paladin Capital Group Joins $7M Series B For Racemi
Racemi, the moving company for the cloud, announced it has closed a $7 million Series B round of venture financing to further develop and market its software for migrating workloads to cloud computing.
Led by Paladin Capital Group and Harbert Venture Partners, the funding will be used to scale Racemi sales, services and engineering to meet demand for its cloud migration software.
Racemi’s software automates migration of existing workloads to all the major cloud platforms. This means it is no longer necessary to rebuild servers from scratch in the cloud, which translates to significant time and cost savings.
The Racemi software provides flexibility to move workloads between dissimilar physical, virtual and cloud platforms in any combination or direction. For customers, this minimizes any unease over vendor lock-in, while enabling high availability or disaster recovery strategies that span providers. Racemi’s software supports both Linux and Windows, all of the major hypervisor platforms and major cloud platforms including Amazon EC2, CloudStack, GoGrid, OpenStack, Rackspace and Terremark.
“2011 was a great year for us and 2012 has been even better. It was clear that demand was going to outpace our current team and we needed to expand our growing company,” said Lawrence Guillory, CEO, Racemi. “Our software fully automates the migration of server workloads to both private and public clouds with no application changes and no performance impact. It is in high demand by businesses and cloud service providers because it is the easiest and fastest way to migrate applications to the cloud.”
A report by industry analysts, 451 Research, estimated that the on-ramp/cloud-broker sector will grow at a CAGR (compound annual growth rate) of 62 percent through 2014. The report stated: “In a world of increasingly cloud-focused IT environments, it is no surprise that the on-ramps/cloud brokers space is expected to be the fastest-growing market segment.”
“Racemi is at the forefront of cloud enablement technologies, dramatically reducing the cost and complexity barriers to cloud adoption,” said Philip Eliot, principal of Paladin Capital Group.
Racemi makes its DynaCenter software available to cloud providers, professional services teams, and ISVs (independent software vendors) to incorporate into their offerings providing an easy way to add cloud on-boarding capabilities into their products and services. Without cloud on-boarding, many of these firms are facing slow growth in managed workloads. With Racemi, customers have a cloud on-boarding capability they can immediately leverage.
For small- and medium-size enterprises, the company offers Cloud Path, which is a SaaS (software-as-a-service) version of its cloud migration software allowing customers to migrate their applications into clouds in minutes rather than weeks or months. Racemi’s pay-per-use pricing enables customers to use Cloud Path risk free, because they are only billed for successful migrations. There is no infrastructure to install at the customer location so there is no hardware to buy and nothing to maintain.
“Racemi addresses one of the most vexing issues that come with the rush to cloud computing – how to get existing workloads up and running rather than spending time and money on custom development for clouds,” said Wayne Hunter, managing partner of Harbert Venture Partners. “We see Racemi as the easiest on-ramp available today for cloud computing with its ability to move workloads, as needed.”
Philip Eliot and Wayne Hunter have joined Racemi’s board of directors.
Racemi migrates workloads to the cloud by comparing the configurations of the source and destination servers, and then configuring the necessary cloud tools, virtual machine components, disk and network layout “in-flight” to ensure that the image can be run on the target cloud platform. Unlike other technologies, Racemi’s image-based provisioning software does not require modifications to the application. The solution is fully automated, taking only minutes for an administrator to conduct the migration.
Racemi has been named a “Cool Vendor” and has received other industry awards. The company builds server provisioning and cloud migration technology that allows businesses to quickly migrate their existing physical and virtual servers to, from and between cloud providers and across data centers. For Cloud Service Providers, Racemi is the fastest and best method for on-boarding customers to their cloud. Racemi also enables customers and partners to automate private data center provisioning by leveraging its market-leading server imaging technology to rapidly provision physical, virtual, or private cloud servers in any automated use case.