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Ukrainian Java and PHP cloud hosting platform Jelastic announces that they have obtained an undisclosed amount of new funding from Maxfield Capital (the fund of Alexander Turkot who has previously run Skolkovo IT cluster, and MySpace Russia prior to that) and named John Derrick as its new CEO. Although the company did not reveal the amount of the investment, Forbes Ukraine reports that Yevgen Syosev from AVentures estimated the deal at $2-5 million (1,52-3,81 million Euro). Within the PHP and Java cloud-hosting market, Jelastic competes with services like Google App Engine, Heroku, Cloud Foundry, AppFrog, Openshift, Cloudbees, and AWS ElasticBeanstalk.
Jelastic provides a platform-as-a-service solution for hosting providers which enables them bring additional revenue by offering hosting platform for Java and PHP developers. Working on Jelastic products means setting up within seconds, deploy applications with one click, and autoscale as the application load grows.
Jelastic was founded in 2010 in Zhitomir by Ruslan Synytsky, Constantin Alexandrov, and Alexey Skutin, but has since relocated to Palo Alto, California. Jelastic reports having 60,000 customers via 12 hosting providers worldwide and says that they have agreements with 22 hosting providers at various stages. Prior to this funding, the company obtained $500,000 (381,000 Euro) in seed-funding from Runa Capital in 2010 and then obtained $2 million (1,52 million Euro) in April 2012 in a Series A round from Almaz Capital and Foresight Ventures. In July 2012, the Russian Skolkovo Foundation awarded Jelastic a $1 million grant for the development of its private-cloud service. As a condition on receiving the grant, Jelastic established an office at the Skolkovo Innovation Centre.
We have covered Jelastic on a number of occasions last year, and since then the company has expanded its product to PHP applications.
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