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Bangalore-based cloud management startup, ActOnMagic, has raised about $124K (INR 85 Lac) in a seed round funding led by NetMagic’s co-founder Jayabalan Subramanian, reported ET.
Founded in 2014 by Madan Ganesh Velayudham, ActOnMagic, offers intelligent monitoring and analytics software. It can optimise the benefits of hybrid cloud for service providers, enterprises and their customers.
The company helps CIO and operations team to plan their storage capacity and keep tab on infrastructure supply and vice versa. For business, it helps companies to measure product uptake and keep track on revenue target.
ActOnMagic will use the raised capital to scale its product engineering team and sales efforts in India.
“We are happy to lose the “Bootstrappers” tag to help us to acquire customers in a heavily competitive cloud market. It is really a rollercoaster ride and it was difficult to attract great talents as bootstrappers, the fund will allow us to attract right talent in order to differentiate our offerings from the market and to build stronger ecosystem for our offerings,” said Velayudham.
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