UpCloud

About UpCloud

UpCloud was founded in Helsinki in 2011 as a spin-off from Sigmatic, an earlier Finnish shared-hosting business run by co-founder Joel Pihlajamaa. It stayed independent and privately held, taking venture funding -- a roughly 18-to-20-million-euro round in 2019-2020 backed by Connected Capital, Finnish state investor Tesi, and Inventure -- rather than being acquired. Its fixed-price cloud servers, along with managed databases, object storage, load balancers, and managed Kubernetes, run from around 14 datacenter locations, including the only pan-Nordic footprint among cloud-native hosts (Finland, Sweden, Denmark, and Norway) plus sites elsewhere in Europe, the US, and Asia-Pacific. Pihlajamaa, its long-time CTO, returned as CEO in 2026 after a period under outside leadership.