Startup City Magazine

Grid Dynamics Acquires Qubell; Raises Series B Funding to Expand Cloud Application Services

Bengaluru: Leading e-Commerce technology solutions, Grid Dynamics acquires a California-based autonomic application management platform, Qubell for an undisclosed amount. Post acquisition, Grid Dynamics will offer a coordinated cloud enablement and application management solutions as Qubell will become a wholly owned subsidiary of Grid Dynamics. Its product will be renamed to 'Tonomi' in order to expose its focal point on autonomic application management.

Grid Dynamics has also raised an undisclosed amount in series B round of funding from Qubell’s lead investor, Benhamou Global Ventures (BGV). The company will be utilizing the fund to expand its cloud application services.
Incorporated in 2006 by an industry veteran - Leonard Livschitz, Grid Dynamics is a provider of open, scalable, next-generation commerce technology solutions. The firm delivers cloud application services and Omni-channel digital platforms. The company has in-depth expertise in commerce technologies and broad connection in the open source community. Today, the firm claims to have customers who include eBay, Yahoo, Raley’s, Kohl’s, Macys, x.Commerce and PayPal.

Concerning the product, Leonard Livschitz, CEO, Grid Dynamics, says, “Tonomi’s powerful automation technology will further enable us to deliver what our customers are asking for: fast, safe and secure management of applications and their environments on public and private clouds. Grid Dynamics’ traditional focus on developer support, coupled with Tonomi’s focus on application delivery and operational support, make our company uniquely positioned to transition our customers to the cloud”.

“I’m excited to welcome the Tonomi team to help drive the next wave of growth for Grid Dynamics as we leverage our e-Commerce expertise and broaden our reach to all online digital services,” he added.

Adding to the same, Eric Benhamou, Founder & General Partner, Benhamou Global Ventures, says, “With the rapid adoption of micro-services, cloud and continuous delivery, Grid Dynamics, now enhanced with Tonomi’s award-winning technology, is well positioned to become the go-to resource in helping enterprises successfully navigate application architecture, development and operations in the cloud”.

Speaking about the Cloud technology, Victoria Livschitz, EVP and General Manager, Tonomi, says, “The cloud has finally won the enterprise and now the migration is full throttle. Businesses are rethinking how they develop, test, deploy and operate digital services. Our customers need more than just technology or services. They need complete solutions that can be deployed quickly, deliver immediate business results and combine technology, processes and skills”.

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