February 14, 2019

Nordcloud secures EUR 20 million funding

The cloud is the limit. Nordcloud supports enterprises with IT infrastructure and digital transformations and is among the fastest growing companies in Finland.
The cloud is the limit. Nordcloud supports enterprises with IT infrastructure and digital transformations and is among the fastest growing companies in Finland.
Screenshot/ Nordcloud

Finnish public cloud services company Nordcloud has raised 20 million euros from Finnvera and OP Corporate Bank.

Nordcloud will use the fresh funding to continue its profitable growth, speed up international expansion and develop new products according to customer demand.

The Finnish company plans to recruit more than 500 new team members across key European markets during the next 18 months, as well as expand its R&D and invest in its public cloud capabilities.

“Nordcloud has been growth-focused from the start,” said Nordcloud’s CEO, Jan Kritz. “Over the past three years, our organic growth rate has been over 500 per cent. Together with our partners, people and customers, we’ve realised our vision of bringing about truly agile and efficient corporate IT through hyperscale cloud and software.”

The company currently employs more than 400 cloud experts across 10 European markets and is partners with major public cloud platforms AWS, Microsoft and Google. It has a revenue run-rate of over 60 million euros.

Its international growth has been supported by Finnish public organisations Finnvera and Business Finland, and the Finnish Ministry for Foreign Affairs, since its founding days in 2011. The new OP Corporate Bank funding is also backed by EU-financing.

 

Good News from Finland is published by Finnfacts, which is part of Business Finland.

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