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    Skytap Banks $45 Million VC to Move Legacy Apps to Cloud

    By
    Chris Preimesberger
    -
    August 22, 2017
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      Skytap.logo

      Skytap, a global public hybrid cloud provider that specializes in moving legacy apps to the cloud effectively, revealed Aug. 22 announced that it has closed $45 million in Series E funding.

      Goldman Sachs Private Capital Investing led the round, which also included participation from existing investors.

      The Seattle-based company said the new funding comes during a period of growth. Skytap said its total sales more than tripled year-over-year in Q2 2017, because several Fortune 500 organizations in health care, retail, financial services, media and more have adopted Skytap Cloud to modernize conventional enterprise applications.

      Skytap’s primary offering is designed to provide end users with the ability to quickly create cloud-based virtual environments using self-service tools and automated procedures. The virtual environments can be configured to provide applications, networking, collaboration capabilities and other capabilities to allow businesses of any size to create ad hoc desktop and network services with little or no support from IT staffers.

      Older Apps Are Hard to Retrofit to Cloud

      Moving apps that work well for organizations in data centers but haven’t been retrofitted to work in cloud deployments is probably the most common inhibitor for an enterprise as it tries to move to a mobile or cloud-based environment. Employees simply want to use apps with which they are familiar; retraining them on new apps because of a move to the cloud is costly, time-consuming and often detrimental to morale.

      Recent Gartner research found that, “through 2017, 20.4 percent of most organizations’ IT budgets will be allocated for spending on cloud and cloud-related services.” While cloud services are growing rapidly, the majority of enterprise IT budgets remain locked in the data center because it is difficult to move them efficiently to a cloud-based deployment.

      Enterprises need a better way to migrate and modernize those core business applications. Skytap Cloud is specifically designed to enable this transformation, the company said.

      Skytap said its existing customer upgrades grew 130 percent YoY in Q2 2017, while the company’s average revenue per customer grew 60 percent in the same period. Three of the company’s top five customers were obtained this year and nearly 60 percent of Skytap’s revenue now comes from large enterprises.

      Cloud Utilization Has Grown 10-Fold in Three Years

      Skytap said its cloud utilization has grown 10-fold in less than three years as the company expands its product capabilities to address the entire breadth of the software development lifecycle.

      Skytap Cloud claims to be the only Infrastructure-as-a-Service (IaaS) provider that supports IBM’s AIX operating system, in addition to Windows and Linux. This integration provides the most direct path for enterprises to migrate legacy AIX applications to the cloud and modernize them in-line with business needs.

      Earlier this year, Skytap released Skytap Container Management, which enables IT organizations to develop, deploy, and run traditional enterprise and containerized applications together in Skytap Cloud.

      For more information about Skytap Cloud, go here.

      Chris Preimesberger
      https://www.eweek.com/author/cpreimesberger/
      Chris J. Preimesberger is Editor Emeritus of eWEEK. In his 16 years and more than 5,000 articles at eWEEK, he distinguished himself in reporting and analysis of the business use of new-gen IT in a variety of sectors, including cloud computing, data center systems, storage, edge systems, security and others. In February 2017 and September 2018, Chris was named among the 250 most influential business journalists in the world (https://richtopia.com/inspirational-people/top-250-business-journalists/) by Richtopia, a UK research firm that used analytics to compile the ranking. He has won several national and regional awards for his work, including a 2011 Folio Award for a profile (https://www.eweek.com/cloud/marc-benioff-trend-seer-and-business-socialist/) of Salesforce founder/CEO Marc Benioff--the only time he has entered the competition. Previously, Chris was a founding editor of both IT Manager's Journal and DevX.com and was managing editor of Software Development magazine. He has been a stringer for the Associated Press since 1983 and resides in Silicon Valley.

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