24 February 2014, Bonn
– elastic.io GmbH, a pioneer in providing integration Platform as a Service (iPaaS) announced today the closing of a significant seed investment with a group of private investors. The elastic.io platform provides SaaS vendors, especially their developers, a fast, seamless and transparent integration method to connect SaaS applications. Putting a high value on the simplicity of the integration process for SaaS vendors, elastic.io can help to grow their business by boosting their SaaS eco-system.
ith its innovative offering, elastic.io targets the market of cloud based application vendors following the SaaS Business Model. The fast growing SaaS market is driving the need for simple integration. Only through the combination of different SaaS applications the SaaS vendors can increase their global reach. By winning more customers, SaaS vendors can reduce the “cost of customer acquisition” in the SaaS business model to achieve a faster growth. elastic.io offers a platform with an easy to use developer toolkit and an integration store with different standardised connectors for embedding into SaaS applications which can be used from SaaS vendors on a “pay per use” billing model.
The investment was provided by a Joint Venture Investment Corporation of the Alghanim Family, Kuwait and the Kuenheim Family, Germany. It will help elastic.io to speed up the product development and to expand its sales and marketing team for fast international growth.
“With this investment we continue our 30 yearlong investment strategy focused on exciting high-tech companies based in Germany”
“We were compelled by the leading technology of elastic.io allowing a straight forward and seamless integration of heterogeneous SaaS based application vendors”
-Fabian von Kuenheim
“We are happy to see not only sufficient financial resources to push our company forward but also a day-to-day support from our investors with strong entrepreneurial background.”
-Renat Zubairov, CEO & Co-Founder