Cloudian has closed US$23 million in growth financing from Morgan Stanley Expansion Capital to drive product innovation and sales and marketing initiatives to meet the rapidly growing demand for the firm’s AI data lake software.
Heightened enterprise demand for scalable AI-ready data management solutions has propelled Cloudian to achieve impressive growth metrics, including a 30% ARR increase year over year.
Additionally, Cloudian has reached a significant financial milestone by achieving breakeven – reflecting the company’s strong operational performance and market position.
“Our product innovation and commitment to customer success have driven substantial growth as enterprises increasingly leverage Cloudian’s AI-ready data lake technology to create insights and advance their AI initiatives,” said Michael Tso, CEO and Co-Founder, Cloudian.
“Achieving breakeven alongside this growth marks a pivotal moment in our financial journey. We are excited to partner with Morgan Stanley Expansion Capital to further our mission of providing industry-leading storage solutions.”
Cloudian’s HyperStore has enabled the company to meet the diverse storage needs of enterprises across various industries.
Significant investments in technology and product development have positioned Cloudian as a key player in the object storage market.
“Cloudian’s innovative approach to data storage, combined with its strong customer focus, has positioned the company as a leader in the market,” said Stanley Hua, Executive Director, Morgan Stanley Expansion Capital. “We are delighted to support Cloudian in the next phase of growth and to help the company continue delivering exceptional value to its customers.”
