Racemi, which specializes in moving business computing workloads onto and between clouds, snagged $7 million in B Round funding led by Paladin Capital Group and Harbert Venture Partners. The money will fund the expansion of sales, service and engineering efforts for Racemi’s cloud broker service. That brings total funding for the company to $19.3 million.
As more companies evaluate cloud deployments — especially multi-cloud deployments — the need for easy and safe ways to put workloads to the cloud to begin with, and then move them between clouds as needed, will grow. That’s the problem services like Racemi’s DynaCenter and competitors like CloudSwitch, now owned by Verizon and run out of its Terremark unit, are taking on. Other offerings in this space include Scalent, acquired by Dell in 2010, Altirus, now part of Symantec and Platespin, bought by Novell in 2008.
The growing realization that cloud computing is a great way to consolidate workloads, alleviate IT headaches, and mitigate risk is now tempered with the realization that no cloud provider — just like no internal data center — is perfect. Recent Amazon outages drove that point home hard. That’s one reason market researchers predict robust growth for cloud brokers. The 451 Group, for example, estimates that the sector will log a 62 percent compound annual growth rate over the next two years.
Atlanta-based Racemi said its software supports most cloud platforms including Amazon EC2, CloudStack, GoGrid, OpenStack, Rackspace and Terremark.