Bespin Global, a South Korea-based cloud computing services and software provider backed by IT services firm Hyosung ITX, has completed a $27m funding round led by investment firm ST Telemedia.
The round also featured existing investors in Bespin, though the only one explicitly identified was Legend Capital, the venture capital firm formed by conglomerate Legend Holdings.
Bespin provides enterprise clients with a range of services related to their cloud computing activity, including migration to the cloud, consulting, monitoring and optimisation. It has also built a software platform that automates cloud IT management.
The funding will be used to further develop the company’s cloud management software. Ronald Totton, executive vice-president at STT, will join Bespin’s board of directors in conjunction with its investment.
Legend Capital had previously led Bespin’s $15m series A round in July 2017, investing alongside Hyosung ITX, Premier Partners and Altos Ventures.
STT, which in addition to investing operates as a technology, media and communications-focused holding company, has also signed a business cooperation agreement with Bespin that will involve the companies cross-selling products and sharing expertise.