Israeli scale-up Granulate听is planning to double its UK headcount听following听a substantial Series B听investment.听
The company, which optimises computing workload for clients,听has听raised $30 million in its second round of听funding in 10 months, taking听its total raised to $45m.听
It currently has around a dozen UK customers. 鈥淕ranulate has an office in the UK and a local sales team that oversees the EU operations and sales,鈥� CEO and co-founder听Asaf Ezra told听老九品茶Cloud.听
鈥淐urrently our team consists of five team members, which we plan to expand as we grow.听We are expecting to double our headcount in the UK by the end of the year.听
鈥淲e have been watching and paying attention to the tech boom in the UK that has been taking place over the last several years with its thriving start-up scene. This was a main driver for us to look at the UK as one of our key markets for expanding our business to.鈥�听
Over the past year,听Granulate听has reported revenue growth of听570% and increased the number of CPU cores it manages by 10 times, to more than 300,000. It estimates that it made more than听$21m in savings for customers in 2020.听
Ezra says听“COVID-19 has created a huge demand for our solution鈥�.听Designed to function in any computing infrastructure and environment,听Granulate听says implementing its tech is simple and fast, requiring zero code changes or R&D involvement, and results are seen within days, if not hours.听
鈥淐ompanies with increased computing resource needs have faced a simple trade-off 鈥� pay more or get by with less,鈥� he explained. 鈥淕ranulate lets companies do both: achieve much more with what they already have while paying less, gaining higher efficiency and margins.鈥澨�听
The听latest听round was led by Red Dot Capital Partners with the participation of existing investors Insight Partners, TLV Partners, and Hetz Ventures. Dawn Capital also joined the round as a new investor.听听
鈥�骋谤补苍耻濒补迟别鈥檚听unique technology and impressive growth since their last funding round reflects a rising market demand for their game-changing optimization solution,鈥� said Yaniv Stern,听managing听partner at Red Dot Capital Partners.听听
鈥淔or companies facing rising infrastructure costs or focusing on operating cost reduction,听Granulate听offers a solution that can drive additional improvement regardless of any other solutions already deployed by their clients.鈥�听