On April 6, Taiwanese startup CloudMile announced the successful closure of its Round A funding. The tech company will receive a total of $2m from local consultancy firm Wenetgroup and Hong Kong-based private equity firm Substance Capital.
The startup, which provides cloud services tailored to the needs of businesses, plans to channel the funds into the development of its proprietary technologies and a new marketing initiative. In 2018, CloudMile’s services will launch publically in Hong Kong, with Southeast Asia following soon after.
B2B cloud computing à la Google
CloudMile was established in 2016 by Spencer Liu. The ambitious programmer has previously set up two successful companies and worked together with Android founder, Andy Rubin, who is said to have once quipped that Liu was “a talented guy who knows all about software and ecosystems.” In 2015, the CloudMile founder obtained the commercial rights to become one of only fifteen global partners on the Google Cloud Platform (GCP).
CloudMile’s business-to-business (B2B) services range from consulting to cloud management design.
Participating in Google’s partner program allows the young company to offer clients the same technologies and tools used at Google. Although other Taiwanese companies such as miTAC and LIVEhouse.in have also entered strategic GCP partnerships, one advantage peculiar to CloudMile is its wholesale adaption of Google’s services to the platform.
Currently, CloudMile offers what Liu describes as managed services. These include a content platform that analyzes new terms and buzzwords, as well as recommendation software that reacts to the needs and usage of users.
CloudMile’s latest service, the so-called diary analysis platform, automatically records, analyzes and visually represents user data based on media, e-commerce, and gaming activity. In the future, CloudMile aims to introduce ‘elastic services.’ Liu’s ultimate goal is to become one of East Asia’s leading artificial intelligence cloud designers.
Optimism over the future of cloud computing
The cloud computing market is currently doubling in size each year, and CloudMile hopes to grow with it. Liu expects to receive a further $6m in investment over the next six months, funding which would allow the company to undertake its planned overseas expansion.
By 2020, Liu anticipates yearly revenues of over $50m. While this may seem ambitious, research by IDC corroborates Liu’s optimistic outlook. The market intelligence firm estimates that by 2020, worldwide spending on cloud services will soar to an unprecedented $195b.
The president of Taiwan Techmakers Association Jiang Chi-wei, too, professes his admiration for Liu’s company. When asked by Business Next, Jiang stated that he admires CloudMile’s resolve to take on the international market.
His association has already invited the startup to host a series of lectures on cloud computing and machine learning, allowing them to share their success story and industry knowledge with other Taiwanese startups.