UpCloud gets €18 million funding for international expansion

The Helsinki-based company plans to recruit 100 more staff and open ten data centres around the world.

File picture of tech, AI or computers / Credit: iStock

Finnish cloud infrastructure company UpCloud has announced an €18 million funding boost that will help its international growth.

The Helsinki-based company, founded in 2011, plans to recruit more than 100 new employees and launch ten new data centres in their key European, Asian and North American markets. The money will also fund an expansion into Australia.

UpCloud says its typical users are small-to-medium size tech companies that need to run software applications in the cloud.

“We are thrilled to be able to accelerate our hiring dramatically and we will be looking to double our team size in just this year” says CEO Antti Viopponen.

“We’ve worked hard to build a culture that is very different from other companies, highlighted by strong internal employee metrics, showing our team is energised and committed to UpCloud’s long term success” he says.

The investment round was lead by a Dutch company, and includes equity and debt funding from Finnish Industry Investment a state-owned investment company, as well as Finnish venture capital company Inventure.

UpCloud currently employs more than 50 people in Finland, UK, Germany, Singapore and USA.