Paris, March 9th, 2017. InterCloud, pioneer in dedicated cloud delivery solutions, closed a €10 million Series B fundraising round that includes Series A investors Cap Horn Invest and Ventech and adds new funds from Hi Inov 1, SNCF Digital Ventures, and Bpifrance. This is part of InterCloud's ambitious development plans, in particular international business expansion.
Since 2011, InterCloud has helped global enterprises, such as Schneider Electric and Société Générale, migrate to the Cloud while addressing their security, performance, and flexibility challenges. Today, those enterprises leverage InterCloud’s Cloud Delivery Platform to deliver cloud applications to hundreds of thousands of users worldwide.
Key to InterCloud’s innovation has been the development of strong partnerships with leading cloud service suppliers such as Microsoft, Amazon Web Services, VMware, IBM Softlayer, OVH, and ServiceNow.
The massive adoption of cloud computing services by large enterprises has driven InterCloud’s year on year high double-digit growth in a Western European market poised to reach $1B by 2019 (Source: IDC).
As well as expanding into new European markets and enhancing the global reach of InterCloud’s Global Delivery platform, the new funds will support further development of its cloud application services particularly in the area of Applications Performance and Security.
Jérôme Dilouya, InterCloud's CEO, said “The addition of two new experienced investors, Hi Inov and Bpi France, to our existing shareholders, Caphorn and Ventech reinforces the confidence we have in our business. We have one of the most advanced cloud connectivity platforms that can transport cloud applications reliably and securely anywhere in the world. These new funds will allow us to expand our addressable market in the UK, Belgium, and Switzerland, whilst continuing to innovate.”
Nicolas Meunier, Hi Inov Investment Manager, commented “The digital transformation of large business to the Cloud and their absolute requirement of retaining control over their data has been a perfect match with InterCloud’s offer of quality and security. The company is led by a brilliant and experienced management team.”
Marion Aubry, Bpifrance Investment Manager, added “We were impressed by the InterCloud team, which has been able to address an emerging need for large companies to massively migrate their applications to the Cloud with confidence. Thanks to its agility and innovation, we are confident that InterCloud will continue its strong growth in the years to come.”
Matthieu Jacquier, SNCF Group Director of Digital Strategy, declared “We were seduced by both the team and their ability to accompany our migration to the cloud. Their solution brings the agility and performance needed today for the digital transformation in which the SNCF Group is engaged.”
Guillaume Dupont, Co-founder & Partner CapHorn Invest, confirmed “The timing of the Series B funds is perfect for InterCloud to expand its European business base. We are proud to have been an active investor with them since 2014.”
InterCloud is a leading provider of software-defined Cloud interconnectivity (SDCI), to offer secure, end-to-end managed services. Intercloud’s API-centred platform helps businesses simplify and accelerate network operation with a high level of performance and transparency for corporate resources that are distributed across multiple locations and different Cloud providers. As a premium partner to the major Cloud Service Providers (CSPs), including AWS, Microsoft, IBM, and Google Cloud, InterCloud offers optimal connectivity solutions.
Founded in 2012 by Pierre-Henri Dentressangle (President) and Valérie Gombart (Chief Executive Officer), Hi Inov SAS is the venture capital arm of Dentressangle Initiatives. Its first fund Hi Inov 1, which most of the €40M of capital results from industry and service entrepreneurs targets innovative young companies of the digital economy in e-services, mobile internet, industrial lot, retail technologies and SaaS dedicated to the digitalization of large corporations. SInce 2015, Hi Inov has been managing the €30M SNCF Digital Ventures fund, to invest in start-ups accelerating the digital mutation of the SNCF group.
SNCF Digital Ventures
Since October 2015, Hi Inov has been managing for SNCF the €30 million SNCF Digital Ventures fund, which invests in young companies in the digital ecosystem in amounts ranging from €0,5M to €4M. Industrial lot, big data, mobile applications dedicated to information and customer service, the fund aims to take part in a wide range of domains.
Equity investments are operated by Bpifrance Investissement. Bpifrance, a subsidiary of the French state and the Caisse des Dépôts and the entrepreneurs' trusted partner, finances businesses from the seed phase to IPO, through loans, guarantees, and equity investments. Bpifrance also provides operational services and strong support for innovation, export, and external growth in partnership with Business France. Bpifrance offers to businesses a large range of financing opportunities at each key step of their development, including offers adapted to regional specificities. With its 47 regional offices (90% of decisions are made locally) Bpifrance represents a strategic tool for economic competitiveness dedicated to entrepreneurs. Bpifrance acts as a back-up for initiatives driven by the French State and the Regions to tackle 3 goals :
- Contributing to SME's growth
- Preparing tomorrow's competitiveness
- Contributing to the development of a positive entrepreneur ecosystem
With Bpifrance, businesses benefit from a powerful, efficient, and close representative, to answer all their needs in terms of financing, innovation, and investment.
CapHorn Invest is a venture capital fund that manages more than € 150 million and brings together more than 200 high-level business executives, industrial families, and institutional LPs to support a portfolio of 20 companies. We invest in innovative SMEs who transform, through digital and new uses, traditional markets. Our team relies on its unique network of investors to give our 20 companies fast and direct access to industry decision-makers. CapHorn Invest brings them valuable experience and business contacts to take them faster to success and generate Fund performance.
Ventech, one of Europe’s leading venture capital firms, invests through offices in Paris, Munich, and Helsinki into high-growth companies with activities in the digital economy (internet, media, e-commerce, mobile, software, and communications infrastructures). Ventech also runs a local team based in Shanghai which manages a dedicated regional fund while offering business development support in Asia for European portfolio companies. With more than 650M€ raised since 1998, Ventech has invested in over 120 companies in Europe, China, Russia, and the US. Current active investments in Europe include successful high-growth companies such as Augure, Believe Digital, Ogury, Picanova, Speexx, StickyADS.tv (recently acquired by Comcast), Unilend, Vestiaire Collective, Webedia, or Withings (recently acquired by Nokia).