Funding from United Ventures and Vertis to enable further development of modern applications on Kubernetes to help reduce the complexity of enterprise solutions.
FUNDING FROM UNITED VENTURES AND VERTIS TO ENABLE FURTHER DEVELOPMENT OF MODERN APPLICATIONS ON KUBERNETES TO HELP REDUCE THE COMPLEXITY OF ENTERPRISE SOLUTIONS
Entando, the open-source software company with an application composition platform for building enterprise modular web applications on Kubernetes, announced an investment of $11 million in Series B funding. The funding will drive the continued development of Entando’s platform and help accelerate and expand market awareness and worldwide operations. Capital raised will be deployed to expand Entando's team and strengthen partnerships with leading open-source projects and system integrators to accelerate digital transformation and innovation on Kubernetes.
The investment is led by United Ventures, the Italian venture capital firm specializing in investments in digital technologies. Entando is the first company to enter the portfolio of United Ventures' latest fund, UV T-Growth, which is focused on highly innovative growth-stage businesses. The round includes additional investment from Vertis SGR, which led Entando's Series A investment round of $3.5 million in 2019. In the last two years, with Vertis support, Entando has strengthened the management team, appointing Paul Hinz as CEO, doubled the engineering team, consolidated the development of the platform and closed important commercial agreements such as the one with the Italian Army.
In addition to its software platform, Entando has established an ecosystem of solution providers that enables enterprises to compose applications more quickly from existing services. This ecosystem leverages an open development model and low code tools that accelerate innovation, lower run-time costs, and streamline security and reliability for applications running in containerized deployments on Kubernetes across a hybrid cloud strategy. The company is focused on aligning strategies and product features to support leading vendors and services such as Red Hat, VMWare, Google, and Noovle, the cloud company of TIM Group, in accelerating the digital transformation of public and private companies.
Entando’s vision is to change the way enterprises think about building apps, sites, and portals to promote developer productivity in a Kubernetes environment. To that end, Entando is pursuing a market opportunity that Gartner Group describes as intelligent composable business (reference: Gartner’s Top Strategic Technology Trends for 2021). Entando believes that providing enterprises the ability to build applications using reusable and modular components in a Kubernetes environment is key to improving their response to business needs and overall ability to innovate quickly. Entando is also focused on helping systems integrators worldwide to build marketing, sales, and component catalogs of prebuilt business capabilities.
Fabio Pirovano, Partner of UV T-Growth, commented: "In the enterprise world that keeps digitalizing, evolving, and embracing new technology solutions and architectures, organizations need solutions to innovate more quickly and efficiently. Enabling developers to build enterprise applications that are highly customized, cloud-native, scalable, and user-oriented, Entando is well-positioned to become the leading development solution platform for enterprises and providers worldwide. We were fascinated by Walter Ambu and Paul Hinz's experience and vision, and we are excited to partner with them for the journey ahead."
Paul Hinz, CEO of Entando, commented: “Companies implementing digital transformation projects are able to react faster to corporate needs, increase security and reliability, and reduce the costs and complexities of building and running apps in the cloud. Entando’s mission is to provide a platform that leverages open source technologies and best practices, as well as an ecosystem of systems integrators and solutions, to empower enterprise IT teams to increase business agility and innovation.”
Founded in 2015 by Walter Ambu and Paul Hinz, Entando’s vision is based on Hinz’s years with executive leadership in organizations such as Red Hat, Liferay, and Sun Microsystems and Ambu’s technical expertise and knowledge of industry trends. Entando is now a worldwide team, with R&D located in Sardinia, Italy and sales and support offices in North America.
Entando is an open-source software company providing an application composition platform for building enterprise web applications on Kubernetes. Focused on helping companies fully modularize their applications and align frontend and backend code updates, Entando helps simplify application lifecycle management by automating and accelerating responsiveness to security vulnerabilities, bug fix demands, and requests for enhancements. In 2015, Entando was named in the "Cool Vendors in Web Computing" Gartner report. In 2017, it became an official Red Hat Technology Partner, and Entando's platform won the Digital360 Awards prize in the cloud computing category in 2018.
United Ventures SGR SpA is an independent Venture Capital firm supporting visionary entrepreneurs to reinvent industries through technology, from early to growth stage. Founded in 2013 by Massimiliano Magrini and Paolo Gesess, United Ventures manages over €300 million raised from Italian and international institutional investors and has invested in over 25 technology companies. The current portfolio includes Young Platform, Deliveristo, BOOM, InSilicoTrials, Fiscozen, xFarm, MishiPay, Equalum, Credimi, Exein, brumbrum, MainStreaming, FaceIT, Musixmatch, Datrix, Cloud4Wi, and Moneyfarm.
Vertis SGR SpA is an independent Italian Private Equity and Venture Capital firm managing seven closed-end funds reserved for institutional or qualified investors. In the Venture Capital sphere, Vertis Venture 2 Scaleup fund supports the growth of startups that have already completed the development of their technology and product/service and are ready to begin or expand their domestic or international business activities. The current portfolio of Vertis Venture 2 Scaleup includes Entando, Credimi, Milkman, Cyber Dyne, Buzzoole, Radical and Fitprime.
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