Madrid-based Jotelulu, a cloud platform that transforms small IT companies into cloud service providers, announced that it has secured €4M in a Series A round of funding.
The investment was led by Adara Ventures, one of the leading European deep tech funds, with participation from US-based fund G2A Investment Partners.
Jotelulu’s platform allows any IT firm to sell cloud services at a competitive price, under its own brand, and without having to rely on the infrastructure of massive cloud giants.
Over 3,000 SMEs and 10,000 customers in Spain and Portugal are now utilizing Jotelulu’s products, making the platform a significant cloud player in the area.
Jotelulu says it will use the funds to accelerate expansion in France and beyond.
The company claims to have solidified its place as a top cloud provider in the Spanish and Portuguese markets, with over 10,000 users and Y-o-Y growth rates close to 200 percent.
By guaranteeing IT partners have access to the most recent technologies and cloud security, the funding will also assist Jotelulu in constantly enhancing the value it provides to its current clients.
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