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CloudMile expands presence in Southeast Asia after raising $10M in series B round
CloudMile, a business-to-business (B2B) cloud service provider specializing in artificial intelligence, is expanding its presence in Southeast Asia this year by setting up offices in Kuala Lumpur and Jakarta, according to company founder and CEO Spencer Liu.
The latest expansion plan will be another big step for the AI company after its headquater Singapore office was established in December 2017.
CloudMile will continue working with Google Cloud to strengthen its services for customers in the region, exploring opportunities in both private and public sectors, Liu told Meet.
An overcoming challenge year of 2020, CloudMile grow in revenue and become the Taiwan's first Google Cloud Managed Service Provider (MSP) among 36 worldwide premier partners of Google Cloud. The recently obtained certification allows the startup to expand its MSP services - ranging from machine learning, data analytics, and infrastructure specialization - in Taiwan, Hong Kong, as well as Singapore.
Emerging needs for cloud infrastructure amid pandemic
Last year seems to be a fruitful year for CloudMile, despite the pandemic. The company saw its revenue doubled from the previous year in 2020, after securing orders from benchmark clients in Taiwan's semiconductor industry, CloudMile said.
Commenting on the industry's outlook, Liu said the sector has witnessed a significant rise in demand for cloud infrastructure as companies are seeking digital transformation to cope with challenges brought by the pandemic. System integrators and telecommunication companies have also tapped into the cloud market in recent years, he noted.
"We choose cooperation rather than competition," Liu said, adding that CloudMile aims to create an ecosystem for the cloud industry by connecting with business partners that hold different positions in the sector.
Apart from the marketplace, CloudMile is also exploring opportunities in the public sector. The startup said it has been selected as one of the solution providers under the Hong Kong Distance Business Programme (D-BIZ), a government initiative that funds enterprises to enhance their remote work capabilities.
Besides Hong Kong, Singapore is considered as the company's next target as the city-state currently adopts a top-down, thorough approach to pursue digital transformation. "CloudMile is actively seeking cooperations with the Singapore government," Liu said, without elaborating.
$USD 10M raised in series B round
At the beginning of this year, CloudMile announced that it has topped up its Series B round with $10 million, bringing the total raised to $20 million.
The latest close of the B round was led by Substance Capital, with participation from CDIB Capital and Black Marble Capital. Digital Economy Fund, supported by Taiwan's Industrial Technology Research Institute and Institute for Information Industry, also participated in the funding round, according to a press release.
The fund will be used to expand the company's business in Kuala Lumpur this year and to enhance the service chains in Southeast Asia, CloudMile said.
Founded in 2017, CloudMile has more than 400 clients at home and abroad. So far, the company has managed 23,000 terabytes of network traffic and the operations of more than 22,375 CPUs.
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