Investors double down on cloud operations
The investment community is heavily committed to the world of cloud computing. New cloud investment deals seem to pop up by the day, bolstering an already rising sector and indicating its sustainable growth potential.
The threat of data breaches continues to be a significant concern for business leaders and traders across the country. However, tech engineers and IT managers are continuing to develop a wide range of cybersecurity measures in the form of encryption, decentralization and biometrics. Employment opportunities for IT workers will go hand in hand with the rise of cloud innovation and investment.
eToro moves to hybrid cloud network
eToro, an online social investment network, has transitioned its IT network to a hybrid cloud infrastructure, according to Business Cloud News. Israel Kalush, vice president of engineering at eToro, said that his company is dealing with some pretty intricate trading tactics, many of which are conducted at high speeds. This kind of business setup requires constant data availability and a flexible network with the capability of expanding storage capacity.
Yet despite eToro's progressive decision, the company must still deal with antiquated regulations for public and private cloud networks of financial services.
"We work in a regulated industry, which obliges strict guarantees to the customer and how their data is used," Kalush told the news outlet. "That said, regulation hasn't necessarily fully adjusted to the explosion of cloud in the last decade. We have not put core financial tools into the cloud partly for that reason. But there are many areas of business where it is a natural decision."
ScienceLogic raises $43 million in Series D round
ScienceLogic Inc., an IT monitoring company, has raised $43 million to expand its cloud transition operations, The Wall Street Journal reported. Goldman Sachs Group Inc. led the Series D round, which more than doubles ScienceLogic's previous funding efforts.
Dave Link, founder and chief executive of the company, said that many businesses need a significant amount of oversight in regards to their IT systems. A company may understand the benefits of the cloud, but that doesn't mean that it knows how to apply the technology to its existing business model.
"We knew ultimately that you'd have to see deeper into the stack of tech in order to trust the cloud architecture, to drill down all the way through the operating system, into the virtual machine, through the networking into storage and hardware," Harry Weller, a general partner with longtime investor New Enterprise Associates, told The Journal.