Magnetic.io, the startup behind the flexible, container based software platform VAMP, has received a 500.000 euro investement in a round led by Volta Ventures. The investment will be used for platform improvement, growing the open source community around VAMP, and boost international expansion.
Like other Dutch software development startups (think Elastic, Wercker or Grip.qa), Magnetic helps companies build better IT systems. In the case of Magnetic.io, the main product is VAMP. VAMP a platform that improves scaling, performance and flexibility of IT systems. VAMP’s software has been released as open source. The software is used by many Dutch and international companies, including ING, Rabobank, BBVA, Exact, Huawei, Ziggo/LibertyGlobal, Trifork, Trivento, Enrise and Mijndomein.
The managing partner of Volta Ventures, Frank Maenen, is joining the Magnetic.io board: “We believe VAMP will play an important role in enabling smarter ways of testing, delivering and scaling online software and containers, and we are excited to be- come a partner of the VAMP team and help to make this happen.” Also investing this round is Henri de Jong, founder of Mijndomein.
For Olaf Molenfeld, CEO and founder, the investment comes at just the right time. “As VAMP is available as an open source product there are also organisations using VAMP that we’re not in direct contact with. From our statistics we can see that VAMP is being installed and used all over the world, ranging from China to South-America. We’ve even been told that VAMP is in use at a Russian super-computing facility!”
Magnetic.io was selected into the Startupbootcamp E&M commerce programme in September 2014, and graduated from the program in January 2015, at the demo day at Rabobank. Startupbootcamp is still actively supporting Magentic.io, and also participating in this round.
We asked Olaf Molenveld how Volta Ventures and Magentic.io got in touch: “Volta is of closely watching the Benelux startup space for promising new startups. It is also working with SBC. We got introduced by a mutual investor contact, had some talks, did a pitch, and we were in business. It took time to do due diligence and wrap up all the formalities, but the initial connection and mutual agreement surfaced quickly.”