East West Digital News 27 April 2012
Earlier this week, the Ukrainian-Russian-American startup Jelastic, which offers a cloud-based hosting platform for Java application developers, announced it has secured an investment of $2 million from Almaz Capital Partners and Foresight Ventures.
This ‘Series A’ funding round brings the startup’s total financing to $2.5 million. In December 2010, Jelastic received seed funding from Runa Capital, a Moscow-based fund that operates internationally. Jelastic recently celebrated reaching the 15,000 unique users milestone only seven months after its beta launch.
Jelastic defines its platform-as-a-service (PaaS) as the latest in Java hosting cloud platforms. “In contrast with early generation Java computing platforms, such as Google App Engine, Heroku, or Windows Azure, which required developers to manage virtual machines or adapt their applications to work in the cloud, Jelastic uses only standard software stacks, eliminating worries about code changes or lock-in,” the startup claims.