Telecommunications firm Orange led a €22m ($24.2m) financing round for France-based software integration platform developer InterCloud on Tuesday through its corporate venture capital fund, Orange Digital Ventures.
The round also featured Open CNP, UL Invest and SNCF Digital Ventures, investment vehicles for insurance firm CNP Assurances, safety and security technology provider UL and rail operator SNCF respectively.
Weber Invest, CapHorn Invest, Ventech, Hi Inov and BPIfrance filled out the participants, the latter four having previously joined SNCF Digital Ventures in a $10.6m series B round for the company in early 2017.
InterCloud has created a software-defined cloud interconnect platform that enterprises can use to access and manage cloud-based resources from different platforms and locations. It will spend the capital on commercialising its product in Europe.
Etienne Moreau, an investment manager at Orange Digital Ventures, said: “InterCloud’s unique strategic vision confirms the scale of future developments in the convergence of telecom, IT and security in the era of open and automated software solutions.
“The quality of execution and service of the teams involved in this project makes InterCloud the European leader and a future international player that cannot be ignored and a pioneer.”
The company has now raised almost $40m in total, $5m of which came in a 2014 series A round featuring IT services provider Riverbed Technology, CapHorn Invest and Ventech.
