By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
The firm has secured its first external investment from Runa Capital which it has earmarked for several purposes including establishing a pot of MDF funds that partners can use to promote the cloud through events.
As well as the MDF the plans include ramping up the efforts in the UK and US to increase market share and then looking to move into Europe next year as well as using the Australian operation as a springboard for further Asian growth.
Rob Lovell, CEO of ThinkGrid, said that it had not used venture capital money before but it had looked for it now to grow market share and provide greater UK coverage by investing in more data centre capacity.
"We are currently in nine datacentres but we want to be in more to provide additional coverage and that requires additional capacity," he said.
He said that there had been some ad hoc funds available to resellers but it would now be more formal about its MDF programme and encourage resellers to promote the cloud to their customer base.