Rackspace Technology

Provides multicloud and managed cloud services

San Antonio, Texas, United States

About Rackspace Technology

Rackspace Technology provides cloud computing services with a focus on multicloud solutions for businesses of all sizes. Their services help companies manage and optimize their cloud environments, including on-demand engineering support through Rackspace Elastic Engineering, which is especially useful for those using VMware. This allows clients to scale their IT operations effectively. Unlike many competitors, Rackspace Technology emphasizes managed cloud services, handling the technical aspects of cloud management so clients can concentrate on their core business. They generate revenue through subscription services, consulting, and specialized programs like the Referral Program and the Private Equity Partners Program. Additionally, they offer data services for analysis and management across major cloud platforms, along with security solutions to protect client data and ensure compliance.

San Antonio, TexasHeadquarters
1998Year Founded
$11.2MTotal Funding
IPOCompany Stage
Data & Analytics, Enterprise Software, CybersecurityIndustries
5,001-10,000Employees

Risks

Competition from AWS and Google Cloud could erode Rackspace's market share.
Recent data breach highlights vulnerabilities in third-party vendor relationships.
Rapid technological advancements may strain Rackspace's resources and impact profitability.

Differentiation

Rackspace specializes in multicloud solutions, catering to diverse IT infrastructure needs.
Their Rackspace Elastic Engineering offers on-demand support across various cloud platforms.
Rackspace's commitment to OpenStack enhances their influence in open-source cloud solutions.

Upsides

Increased demand for hybrid cloud solutions boosts Rackspace's Adaptive Cloud Manager potential.
Growing interest in GPU as a Service positions Rackspace in AI and machine learning.
Strategic collaboration with AWS enhances Rackspace's role in AI-driven digital transformation.

Funding

Total raised$11.19 M
Latest valuation$3.63 B
StageIPO
POST IPO DEBT
2/29/2024
$275
IPO
7/31/2020
$703
$3.63 B
ACQUISITION
7/31/2016
$4.3 K
EARLY VC
3/31/2000
$12
$57.50 M