search
Front > News

Cloud solutions co AllCloud raises $3m

Cloud computing
Cloud computing
11 Dec, 2017 19:08
שלח תגובה במיילDor Zach

The Israeli company's customers include Amazon, Salesforce, and Google.

Rosh HaAyin-based AllCloud, which offers cloud computing solutions for organizations, has completed its Series A financing round, raising $3 million at a company value of $30 million. An anonymous group of New York investors led the round with participation from AllCloud's existing investors: the Weil family, Jesselson Capital, and Eran Gil, founder of Cloud Sherpas, sold for $400 million.

AllCloud specializes in cloud computing solutions for major companies, such as Amazon, Salesforce, and Google. It offers its solutions to businesses and installs and maintains them, and also offers NetSuite's ERP solution. The company now has over 1,300 customers, including the Ministry of Finance, Israel Postal Company, Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL), Amdocs Ltd. (Nasdaq: DOX), HPE, and smaller startups. It operates in Afek Park in Rosh HaAyin, and has offices in Berlin and Munich and a support center in Romania. President Yossi Frenkel founded AllCloud, and the CEO is Ronit Rubin.

Frenkel told "Globes" that the money from the financing round was for expansion in the US market through the acquisition of one or two companies. "We want to acquire an AWS partner and a Salesforce partner," he explains. "In cloud computing, there is currently a shortage of strong global integrators with more than 100 employees that can handle everything. There is a shortage of architects, engineers, and developers who are familiar with cloud computing. Our goal is to be an international integrator."

AllCloud is not revealing precise figures about it annual revenue, but the company says that it is in the high tens of millions of dollars, and that it grew 40% in the past year. "Since the company was founded, various investors have been knocking on our door asking to join," Frenkel says. "Up until now, we have preferred to stay with the current investors, but now we want to step up our acquisitions activity."

Published by Globes [online], Israel Business News - www.globes-online.com - on December 11, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Cloud computing
Cloud computing
Emiliano Calemzuk credit: PR CEO and "investor group" buying out Reshet 13

CEO Emiliano Calemzuk and the other investors will hold 74% of the television channel, while Len Blavatnik’s Access Industries and WBD will remain with 26%.

Inflation credit: Tali Bogdanovsky Unexpectedly low February CPI reading cuts inflation

While inflation in Israel in the 12 months to the end of February 2025 is lower than forecast, housing prices continue to rise.

Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Competition Authority allows Delek takeover of Isracard

The Competition Authority is considered the easier of the two regulatory hurdles that the deal must overcome, the other being the Supervisor of Banks.

David Amsalem credit Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

El Al aircraft credit: Yoav Yaari El Al pilots receive nearly NIS 250,000 bonus each

Thanks to the agreements signed with the unions in 2018, El Al's employees as well as senior management share in last year's success.

Pentera CEO Amitai Ratzon credit: Eyal Izhar Israeli security validation co Pentera raises $60m

Pentera's platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

D&B chairman Doron Cohen and Meitar partner Dan Geva Meitar reclaims title of Israel's biggest law firm

Meitar has first place with 537 lawyers, followed by Herzog Fox Neeman with 512 lawyers, according to the latest Dun's 100 rankings.

First International Bank of Israel CEO Eli Cohen credit: Eyal Toueg First Int'l posts top return on equity

First International Bank of Israel's return on equity in 2024 was 19%, the highest among Israel's banks.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018