Qumulus, a fixed cost subscription-based private cloud company, has been awarded £350,000 from the UK government.
The Innovate UK Smart Grant funding will enable Qumulus to boost its headcount and scale its offering globally.
Qumulus is based at Salford Innovation Forum and was founded by Daniel Niasoff.
“Gaining this funding is not easy. It’s been two years in the making to get Qumulus to this stage and we’re very pleased and excited to now be embarking on the next stage of our journey,” said Niasoff.
Qumulus currently has five team members made of senior developers and DevOps engineers.
Five additional hires are now expected to be made with new employees to enable further growth and scale.
It comes as the private cloud services market is poised for remarkable growth, with an estimated Compound Annual Growth Rate of 26.71% between 2022 and 2027, projecting a $276.36 billion increase in market size.
Niasoff said: “What nobody’s doing currently is creating a commodity based private cloud that’s aimed towards the grassroots.
“What we have developed is typically around five times cheaper, faster and easier to use. We’re doing a low cost commodity, easy to use private cloud based subscription model that’s aimed towards developers, and we believe it’s going to solve problems for people. It’s a public cloud experience but on your own private cloud.”
With Qumulus aiming to raise further investment, Niasoff added: “The thing about public cloud such as AWS is you make one small mistake, and you can end up with a huge bill.
“What we do is we give customers a fixed monthly cost cloud where you don’t have to worry about monitoring that cost because you can’t exceed the limits of what you’ve been given.
“There’s no vendor lock in and you can migrate in and out of the platform easily and we manage the cloud for companies. We are not limited to any market or geographic area so in terms of growth the sky’s the limit (excuse the cloud pun).”
David Levine, principal of Manchester Angels, said: “We are here to support Qumulus and Daniel as we have full belief in the solution and quality that they are now bringing to the market.
“We’ve supported Qumulus for 12 months now and we are proud that Daniel and his team have reached a stage that is full of opportunity.”
Artur Grzybowski of Oxford Innovation Space and Salford Innovation Forum, said: “We fully support and believe in Daniel’s vision. Qumulus is very well equipped to make a huge impact in the market as it is a company with high growth potential.”
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