EasyStack, a start-up based in Beijing, announced that it closed US$50 million in Series C funding for its OpenStack cloud enterprise solutions.
EasyStack, which claims to be the leading OpenStack cloud platform and service provider in Asia-Pacific, was founded in February 2014 by the core team of IBM China R&D Center.
In terms of products and services, EasyStack released the first OpenStack ESCloud for the enterprise customers in China, the first hybird cloud solution based on OpenStack in China and the first ESCaaS, the Elastic Dedicated Cloud Solution based on OpenStack. Currently, EasyStack portfolio includes ESCore, ESCloud, ESCloud+, ESCaaS, ESRoller, and ESHybrid.
Easystack’s enterprise clients include China Mobile, China Telecom, The State Grid, Postal Savings Bank of China, China UnionPay, CIB Fintech, Rural Credit Banks Funds Clearing Center, Guotai Junan Securities, Lenovo Group, TCL, Tsinghua University and Tianhe Cloud.
The round of funding was led by Cash Capital with participation by several RMB funds. EasyStack said this sets a new record for funding in a single round in the open source field in China.
Xilun Chen, the founder and CEO of EasyStack said, “The core competitiveness of the cloud computing service provider is demonstrated in the R&D capacity of the basic technologies based on the accumulation of the service and implementation experience of the enterprises and the establishment of the threshold of the leading enterprise clients of a certain industry. With the joining of a new round of financing, EasyStack will enlarge its investment in R&D of technologies, contribute to the open source community and enhance the original creativity of cloud computing technologies; it will continue to improve the products and solutions and further expand the width and depth of the product line; through its own technical capacity, professional services and strong eco-platform, it will create values for more enterprise clients in different industries.”
