CoreStack raises $30 million in Series B funding

CoreStack, a multi-cloud governance SaaS provider, said it has raised $30 million in Series B funding round led by Avatar Growth Capital, with continued participation from Dallas Venture Capital (DVC), Iron Pillar, and other angel investors.

This brings CoreStack’s total funding to $45 million, following its Series A in March 2020.

The funding will be used for growth, expanding into newer markets and also for innovation.

“The rapid adoption of CoreStack by enterprises endorses the transformative value that the solution is able to provide,” said Abhay Havaldar, Managing Director of Avatar Growth Capital. “CoreStack’s holistic approach to cloud-native governance is the missing link that enterprises need in order to get the best out of their cloud deployments. We are excited to partner with CoreStack in its mission to help its rapidly growing customer base maximize their ROI on cloud.”

CoreStack’s approach to AI-powered cloud native governance utilizes a cloud-as-code approach, orchestration frameworks, deep AI/ML, and patented connector-less model.

“Adoption of enterprise cloud solutions has witnessed a massive uptick post pandemic. CoreStack is leading the way in helping these companies unleash the power of cloud through governance across compliance, security, operations, cost, and consumption,” said Ezhilarasan Natarajan, CEO of CoreStack.


Sign-in to see our list of the most promising startups of 2021

According to the company, despite the pandemic, CoreStack saw significant acquisition of new customer logos, along with key executive appointments, and continued adoption at large enterprises. CoreStack is a Google Cloud Build Partner, Microsoft Azure Gold & Co-Sell Partner, and Amazon AWS Advanced Technology Competency Partner.

CoreStack enables enterprises to realize outcomes across FinOps, SecOps and CloudOps, such as 40% decrease in cloud costs and 50% increase in operational efficiencies by governing operations, security, cost, access, and resources.

“VC business is all about doubling and tripling down on your winners. And that is precisely what Iron Pillar has done with CoreStack’s latest $30M financing,” said Mohanjit Jolly, partner, Iron Pillar.

Corestack’s product development is led from Chennai, India while the company has global clients with its headquarters in Bellevue, Washington.

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TheDailyCheck is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected] The content will be deleted within 24 hours.