Cloud spending is relentlessly skyrocketing as businesses seek modernization.

Cloud computing has made it easier for organizations to perform business following a business continuity plan. The technology has driven numerous growth factors across industries, while lessening cost, improving flexibility and client relationships. By integrating cloud infrastructure, startups as well as large enterprises now are able to optimize costs and augment their offerings without purchasing and managing all the hardware and software. According to IDC, over 500 million digital apps and services will be developed and deployed using cloud-native approaches by 2023.

However, as more and more companies shift to the cloud, the occurrence of new issues and pain points is inevitable. In this way, businesses must ensure that they are functioning with updated technology standards and must make the right vendor choice.

Here's a look at the top cloud computing service providers that have raised venture capitals in October 2020.

MessageBird

Amount Raised: US$200 Million

Transaction Type: Series C

Key Investor(s): Spark Capital

MessageBird, a cloud communications company connecting organizations to their customers on billions of devices around the world, raised a mammoth amount of US$200 million in a Series C round. This funding round was led by Spark Capital, with additional backer Bonnier, Glynn Capital, LGT Lightstone, Longbow, Mousse Partners and NewView Capital as well as existing investors Accel, Atomico and Y Combinator. With this fresh round, the Amsterdam-based company's total valuation reached a whopping US$3 billion. MessageBird intends to utilize the funds to increase its global team and further expand into its core markets in Europe, Asia and Latin America.

Armory

Amount Raised: US$40 Million

Transaction Type: Series C

Key Investor(s): B Capital Group

Armory, an enterprise software company that commercializes an open-source continuous and cloud-native software delivery platform Spinnaker, bagged US$40 million in Series C funding round. The round was led by B Capital, with additional participation from new investors Lead Edge Capital and Marc Benioff and existing backers Insight Partners, Crosslink Capital, Bain Capital Ventures, Mango Capital, Y Combinator and Javelin Venture Partners. This latest financing round brought Armory's total fundraised to over US$82 million.

Vineti

Amount Raised: US$33 Million

Transaction Type: Series C

Key Investor(s): Cardinal Health

Vineti is a commercial cloud-based platform that expands patient access to life-saving cells and gene therapies. As an industry-leading expert providing safety, security, seamlessness, and scalability, the company secured US$33 million in a Series C funding round. Led by Cardinal Health, the fresh capital will support Vineti to further expand its Personalized Therapy Management (PTM) platform for personalized and high-value advanced therapies. Based in the San Francisco Bay Area, the company offers a digital platform of record to integrate logistics, manufacturing, and clinical data for personalized therapies.

Accurics

Amount Raised: US$20 Million

Transaction Type: Venture Funding

Key Investor(s): Intel Capital and ClearSky

The cloud cyber resilience expert, Accurics received US$20 million in seed and Series A funding round to improve the security of cloud-native applications with a self-healing approach. Intel Capital leads the Series A and ClearSky leads the seed round. Accurics delivers a powerful solution at a critical time, as cloud-native technologies fuel innovation and power today's applications. This new investment will support the company's market momentum and assist it to continue to build technology that self-heals cloud-native infrastructure by codifying security throughout the development lifecycle.

Yotascale

Amount Raised: US$13 Million

Transaction Type: Series B

Key Investor(s): Felicis Ventures

Yotascale is a next-generation cloud cost management platform for enterprises that rely on cloud cost visibility and optimization for business success. Recently, the company sealed US$13 million in a Series B round led by Aydin Senkut at Felicis, with participation from other capital pools, including Engineering Capital, Pelion Ventures and Crosslink Capital. With this funding, which intends to continue to expand operations and its business reach, Yotascale's total valuation reached US$25 million. The company's mission is to optimize the world's cloud computing spend by empowering engineering teams.

Macrometa

Amount Raised: US$7 Million

Transaction Type: Seed Round

Key Investor(s): DNX Ventures

Macrometa, a Palo Alto, Calif.-based edge computing company that enables web and cloud-native developers to build and run applications across a network, closed a US$7 million in a seed financing round. The round was led by DNX Ventures, with participation from existing investors Benhamou Global Ventures, Partech Partners, Fusion Fund, Sway Ventures, Velar Capital and Shasta Ventures. The new funds will help Macromet to expedite the product rollout and sales of Global Data Network (GDN), a cloud service that enables web and cloud developers to build and run high performance, multi-region, multi-cloud, globally distributed, stateful web, mobile, IoT apps and APIs applications.

Koyeb

Amount Raised: US$1.6 Million

Transaction Type: Pre-Seed Round

Key Investor(s): ISAI

Koyeb, a pioneer in smart storage solutions for the cloud-native era, raised US$1.6 million in pre-seed funding round from Jean-David Chamboredon and Juliette Mopin from ISAI. The round was also joined by Plug and Play Ventures, Kima Ventures, AceCap and a long list of business angels, such as Zachary Smith, Justin Ziegler, Alexis Lê-Quôc, Sébastien Lucas, and others. Koyeb Storage is the industry's first Cloud Platform dedicated to data management and optimisation across multiple Cloud Service Providers. The company also supports a growing number of storage providers, including AWS, Google Cloud, Microsoft Azure, Wasabi, Backblaze B2 and others.