In its bid to bring cloud services to small- and medium-scale enterprises (SMEs), Spanish cloud services provider Jotelulu recently raised €4 million through a Series A investment round. Having done so, the company can now focus on broadening its scope overseas, particularly its impending launch in France.
Jotelulu’s stock in trade is a platform where IT companies can offer cloud services at competitive rates under their own brands – all without needing to rely on the pricey infrastructure of larger cloud platforms. Indeed, the company has established itself as a major cloud provider in Spain and Portugal and boasts of over 10,000 users in both nations and year-on-year growth running at 200%.
Among those who ponied up support for the company’s next phase of development were European deep tech fund Adara Ventures which led the funding round.
Other participants include North American fund G2A Investment Partners, as well as Big Sur Ventures and Fundación Bankinter, both of which supported Jotelulu in previous funding rounds.
For Jotelulu CEO David Amorin, getting support from new partners like Adara Ventures is a form of recognition for the hard work he and his company have put in over the past several years and doubles as motivation for future initiatives.
Amorin added that the recent funding round will enable his company to strengthen its position in markets where it already leads even as it accelerates its expansion into the French cloud market.
Cloud Provider of Choice
Currently, Jotelulu cloud solutions are already being used by over 3,000 SMEs in Spain and Portugal, cementing the company’s position as a leader within the region.
Despite this eminence, nearly 90% of SMEs have yet to avail of cloud services in both countries. In fact , many IT firms in the region find it a challenge to offer their services to the sector as many of them do not have the tools or the support throughout the whole cloud software sales and management lifecycle to do so.
As Jotelulu offers many cloud services as white-label products, IT firms can easily resell them under their own brands and even create service packages to suit the varying needs of their customers. In doing so, Spanish and Portugues IT firms can give their SME clients better support as well as high-quality cloud solutions even as they improve their own profit margins.