SAN ANTONIO, June 04, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology
(https://www.rackspace.com/)® (NASDAQ: RXT), the leading end-to-end, hybrid
multicloud, and AI solutions company, today announced it has aligned Sharestates
for future growth goals and enhanced infrastructure by migrating to Amazon Web
Services (AWS) for its cost-effectiveness, industry adoption, and redundancy
capabilities. The infrastructure transition improved customer experience,
optimized operations, improved scalability, and provided the company with the
latest cloud technologies and best practices.
Through its online marketplace, Sharestates creates customized lending solutions
for real estate investors and developers. Since its founding in 2014, the
company has funded more than $3 billion in projects nationwide. Sharestates'
achievements are rooted in its experienced leadership team, prudent underwriting
practices, and focus on building strong relationships with borrowers, brokers,
vendors, $3 billion in projects nationwide. Sharestates' achievements are rooted
in its experienced leadership team, prudent underwriting practices and focus on
building strong relationships with borrowers, brokers, vendors and investors.
"Sharestates had been running its applications and databases on legacy
infrastructure in a private cloud environment at Rackspace. The decision to
migrate to AWS has modernized Sharestates' infrastructure, enhanced security,
and increased efficiency. Through a three-pronged approach leveraging AWS,
Sharestates now has a new, secure infrastructure as a foundation, monitoring by
Rackspace and the ability by Sharestates to maintain its own internal system,"
said D K Sinha, President of Public Cloud Rackspace Technology. "The new
infrastructure approach has enhanced Sharestates' customer experience, optimized
operations, improved scalability and provided the company the latest cloud
technologies and best practices."
"Our infrastructure transition was a significant milestone for Sharestates, and
the Rackspace team played a crucial role in helping to ensure a smooth process.
The comprehensive documentation provided by the Rackspace team served as a
valuable resource to communicate the changes and gain necessary approvals," said
Radni Davoodi, Acting Chief Operating Officer and Co-Founder, Sharestates. "The
Rackspace team mapped everything so brilliantly, like a roadmap or a cheat
sheet, making it easy to approve each change quickly."
Since the migration, Sharestates has realized several improvements:

  * Faster user interface experience by investors.
  * Improved internal reporting experience by staff.
  * Faster processing speed by borrowers.
  * Improved performance of web application modules by all users.
  * Improved banking transfer processing speed.

"We recommended a single-phase migration, allowing the transition to be
completed over a weekend without downtime. Using the Landing Zone Accelerator on
AWS (LZA), the Rackspace team deployed a secure and compliant landing zone in
less than two weeks, providing a solid foundation for Sharestates' AWS
environment," added D K Sinha. "The migration team utilized various tools and
services, including AWS Application Migration Service and proprietary scripts to
efficiently migrate Sharestates' 3TB of data across 11 servers, ensuring a
smooth and secure transition."
Click here (https://www.rackspace.com/case-studies/sharestates) to read the
Sharestates case study for more details on the infrastructure migration
completed by Rackspace Technology.
About Rackspace Technology
Rackspace Technology (https://www.rackspace.com/) is a leading end-to-end
hybrid, multicloud, and AI technology services company. We design, build, and
operate our customers' cloud environments across all major technology platforms,
irrespective of technology stack or deployment model. We partner with our
customers at every stage of their cloud journey, enabling them to modernize
applications, build new products, and adopt innovative technologies.
Media Contact: Natalie Silva, publicrelations@ran (mailto:publicrelations@ran)
ckspace.com (mailto:publicrelations@rackspace.com)
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