Sova, a specialist web hosting platform for webmasters which was launched at the end of 2013, has gained almost $3,000,000 in funding from undisclosed seed investors. Sova's founders Miyako Itonaga and Takashi Fujimoto, are certainly aware of the fact that over 20% of the world's websites are hosted on the WordPress platform, and have realized the opportunity to provide a dedicated hosting platform while the service was still in great demand.
However, although that have gained around $3 Million in funding, they still face fierce competition from already well-established rivals that currently dominate most of the industry, rendering their $3 Million investment minuscule in comparison. For example, Automattic raised just over $160 million last month, and arguably the most popular WordPress hosting provided WP Engine raised $15 Million in January alone this year.
In hindsight, an investment of $3,000,000 may be enough to have an impact on the Asian market, but is unlikely to allow them to break into the global market for providing WordPress hosting solutions. For sure, this is extremely positive news for Miyako Itonaga and Takashi Fujimoto, but if they set them ambitions high then they surely have their work cut out if they plan to have an influence on the European or global market.