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Apex Trader Funding (ATF) - News

Cloudian Secures $23M Growth Financing from Morgan Stanley Expansion Capital, Reports 30% ARR Growth and Achieves Breakeven

SAN MATEO, Calif., June 25, 2024 (GLOBE NEWSWIRE) -- Cloudian, the leader in secure S3-compatible AI data lake platforms, announced today that it has closed $23 million in growth financing from Morgan Stanley Expansion Capital. Cloudian will use the proceeds to drive product innovation and sales and marketing initiatives to meet the rapidly growing demand for the firm's AI data lake software. Heightened enterprise demand for scalable AI-ready data management solutions has propelled Cloudian to achieve impressive growth metrics, including a 30% increase in Annual Recurring Revenue (ARR) year over year. Additionally, Cloudian has reached a significant financial milestone by achieving breakeven, reflecting the company's strong operational performance and market position. "Our product innovation and commitment to customer success have driven substantial growth as enterprises increasingly leverage Cloudian's AI-ready data lake technology to create insights and advance their AI initiatives," said Michael Tso, CEO and Co-Founder of Cloudian. "Achieving breakeven ...