ActOnMagic, a Bangalore based closed management startup, has raised a fresh round of seed funding worth Rs. 85 lakhs, led by NetMagic’s cofounder Jayabalan Subramanian.
With the new cash coming to the company, it is now planning to expand its team by hiring more people to the company and scale up the sales efforts in India.
Founded in 2014 by Madan Ganesh Velayudham and Sumathi Kuppusamy, ActOnMagic offers intelligent monitoring and analytics software services over cloud. It can optimize the benefits of hybrid cloud for service providers, enterprises, and their customers.
The company, with its offering, aim to empower service providers, enterprises and their customers by providing visibility into critical business, operational challenges and enable them to take proactive action.
Its major offerings include Cloud Optimization, Churn Management, Cost Control and Hybrid Cloud and supports Apache CloudStack, Citirx CloudPlatform, and Exoscale.
Using ActOnCloud Analytics, users can save cost by removing unused capacity with actionable recommendations, make data-driven decisions to optimize hybrid cloud performance and keep environment secured with cloud audits. Hybrid Billing is an AWS-style pay as you go billing platform for IaaS business and address revenue leakages by providing accurate billing.
Madan Ganesh Velayudham, founder and CEO of ActOnMagic, said,
We are happy to lose the “Bootstrappers” tag to help us to acquire customers in a heavily competitive cloud market. It is really a rollercoaster ride and it was difficult to attract great talents as bootstrappers, the fund will allow us to attract right talent in order to differentiate our offerings from the market and to build stronger ecosystem for our offerings.
Another startup offering similar services and on the verge of raising fresh funds is Cloudrino, a startup we featured in December last year.