Cloud data storage is providing opportunities for many new services. Xtrium is delivering cloud computing to mid-size enterprises. But, that was not the plan when the company started. Now, Xtium has obtained a new capital infusion of $11,500,000 to expand delivery of its cloud-based model for smaller entities.
Xtrium provides private cloud computing, virtual hosting, storage, and full disaster recovery. The company’s services are similar to Amazon and IBM, but are targeted to mid-size businesses with pay-as-you-go pricing.
Cost-conscious customers are attracted to the simple price system of Xtrium. In addition, the company reports that some mid-size operations initially rely on Xtrium only for disaster recovery with cloud storage. But, Xtrium then transitions these customers to other back-end services. The flexible system of payment for each usage simplifies marketing to growing companies that must watch their budgets carefully.
Xtium was founded in 2004 but only started managing cloud computing services for customers in 2007. Based in Valley Forge, Pennsylvania, the company intends to use its new funding for expansion. Plans include hiring more employees and making additional investment in the company’s cloud technologies.
Xtrium is an established name in the industry and reports strong revenue growth in 2011. As more companies look to migrate to cloud networks, Xtrium is seeking to dominate the market among mid-size customers. This expectation appears promising as Xtrium is leveraging its experience at managing low-cost virtual networks for such enterprises.