ASX-listed Australian cloud and cyber security provider AUCloud has completed a $8.5 million capital raise.
The succesful funding round was announced on the ASX, where the Entitlement Offer to shareholders was fully subscribed and backed by NEXTDC, AUCloud partner Cathie Reid and chief executive AUCloud, Peter Maloney, who took on the role in March this year.
Funds raused will contribute to working capital.
AUCloud’s solutions specialise in helping Australian government agencies and corporations maximise operational efficiency when it comes to safely storing, managing and protecting their data and information assets.
“The team at AUCloud appreciates the ongoing shareholder confidence in our business and support of our strategy to accelerate the growth of our sovereign cloud and cyber security businesses,” AUCloud chief executive and managing director Peter Maloney said.
“We are at the heart of helping government and private enterprise solve two of the biggest technology challenges; migrating from on premises infrastructure to the high flexible multi-cloud model and helping Australian companies to prevent, detect and respond to cyber security events,” Maloney said.
AUCloud has made significant investments to build secure and accredited sovereign cloud and cyber security capabilities nationally.
In November last year, AUCloud announced the launch of a dedicated Brisbane Sovereignty Zone for government and critical infrastructure sectors to support Queensland based organisations.
This comes after its sovereign zones in Canberra, Sydney and Melbourne.
“We are now focused on strengthening our sales and marketing capabilities, taking advantage of the strong tailwinds, to extend deeper into the cyber security ecosystem and multi-cloud markets,” Maloney said.
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