Ajubeo secures new investment to support 600% revenue growth

By: InnovatioNews Thursday August 22, 2013 Tags: Ajubeo, Boulder, Chuck Price, Marcello La Rocca, Tom Whitcomb

Ajubeo logoBOULDER - Ajubeo, a national provider of high-performance virtual data centers and cloud infrastructure-as-a-service (IaaS), announced it has secured additional capital from Grey Mountain Partners, a Boulder-based private equity firm.

Ajubeo said the new capital will be used to support 600 percent quarterly revenue growth over the past 12 months for its products, which include Virtual Datacenters, Virtual Desktops, Backup and Restore-as-a-Service and Disaster recovery-as-a-Service.

The funding will also support continued expansion in the New York Metro Area, new product development, staffing and sales and marketing initiatives, the company said.

Specifics on the amount of new capital were not released.

"The cloud infrastructure market continues to expand at a rapid pace," said Chuck Price, Ajubeo president and CEO. "The question is no longer whether infrastructure-as-a-service is a viable alternative to traditional methods.

"Instead, customers are architecting their IT-based products and services around a diversified cloud strategy. This shift has led to strong demand for high-performance, production-ready cloud services from providers such as Ajubeo."

"We are excited to support Ajubeo's leadership team, Chuck Price and Colorado CIO of the Year Tom Whitcomb, as they expand and enhance their industry-leading cloud infrastructure offering," said Marcello La Rocca, Grey Mountain Partners affiliate manager.

"Ajubeo continues to deliver on a strong business plan, providing performance-sensitive customers with a 100 percent uptime cloud solution that has been measured at twice the performance of current market share leaders such as Amazon Web Services."

For more information, visit www.ajubeo.com.

About the Author: InnovatioNews

InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.