Grid Dynamics Raises Series B Funding
MENLO PARK, CA, Leading provider of scalable ecommerce technology solutions secured Series B financing.
Grid Dynamics, a leading provider of scalable ecommerce technology solutions, announced today it has acquired Qubell, developer of the first autonomic application management platform for cloud applications. Grid Dynamics also secured series B financing from Qubell's lead investor, Benhamou Global Ventures (BGV) to fund the expansion into cloud services. With the acquisition of Qubell, Grid Dynamics will offer integrated cloud enablement and application management solutions for custom, next-generation digital platforms on the cloud.
'I'm excited to welcome the Tonomi team to help drive the next wave of growth for Grid Dynamics as we leverage our ecommerce expertise and broaden our reach to all online digital services.'
Grid Dynamics and Qubell, close partners and affiliates since the inception of Qubell in 2013, serve the same enterprise market, sharing several large customers. Qubell will become a wholly owned subsidiary of Grid Dynamics and its product will be renamed Tonomi to more accurately reflect its focus on autonomic application management.
'Tonomi's powerful automation technology will further enable us to deliver what our customers are asking for: fast, safe and secure management of applications and their environments on public and private clouds. Grid Dynamics' traditional focus on developer support, coupled with Tonomi's focus on application delivery and operational support, make our company uniquely positioned to transition our customers to the cloud,' said Leonard Livschitz, CEO. 'I'm excited to welcome the Tonomi team to help drive the next wave of growth for Grid Dynamics as we leverage our ecommerce expertise and broaden our reach to all online digital services.'
Leonard Livschitz will continue his role as CEO of Grid Dynamics. Victoria Livschitz, co-founder and CEO of Qubell, will be appointed executive vice president and general manager of Tonomi at Grid Dynamics. Stan Klimoff, co-founder and CTO of Qubell, will join Grid Dynamics as technical fellow and CTO of Tonomi. Eric Benhamou, who served as Chairman of Qubell, will join Grid Dynamics' Board of Directors.
'The cloud has finally won the enterprise and now the migration is full throttle,' said Victoria Livschitz, EVP and General Manager of Tonomi. 'Businesses are rethinking how they develop, test, deploy and operate digital services. Our customers need more than just technology or services. They need complete solutions that can be deployed quickly, deliver immediate business results and combine technology, processes and skills.'
'With the rapid adoption of micro-services, cloud and continuous delivery, Grid Dynamics, now enhanced with Tonomi's award-winning technology, is well positioned to become the go-to resource in helping enterprises successfully navigate application architecture, development and operations in the cloud,' said Eric Benhamou, founder and general partner of Benhamou Global Ventures.
About Grid Dynamics
Grid Dynamics is a leading provider of open, scalable, next-generation commerce technology solutions in the areas of omni-channel digital platforms, cloud enablement and continuous delivery. To learn more about Grid Dynamics, find us at www.griddynamics.com or by following us on Twitter @GridDynamics.
Tonomi provides the first autonomic application management platform for cloud applications and empowers developers and operations teams to turn their applications into self-managed entities that adapt, configure, heal and protect themselves in response to changes within dynamic cloud environments. Founded by a team of application automation and cloud computing experts in 2012, Tonomi is headquartered in Menlo Park, California.
Benhamou Global Venture (BGV), is an early-stage venture capital firm with deep Silicon Valley roots, with an exclusive focus on enterprise information technology opportunities in global markets. The BGV team has successfully built a cross-border venture investing model, which it is selectively expanding to other markets and regions globally. The Fund was founded by Eric Benhamou, formerly chairman and CEO of 3Com, Palm and co-founder of Bridge Communications. Comprised of an experienced partnership team of global operating executives and investors, BGVII will actively engage and support entrepreneurs looking to build the next generation of enterprise IT companies. With a particular emphasis on cloud based services and applications, cyber security, web-scale infrastructure, business analytics and the Internet of Things, the Fund will invest in the compelling opportunities offered as enterprise IT transformation accelerates. The company has offices in Palo Alto, California and Tel Aviv, Israel.
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