Friday, March 29, 2024
News

CoreStack closes USD 30 million Series B Financing Round led by Avatar Growth Capital

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Business | November 25, 2021 12:18:12 PM IST
Chennai (Tamil Nadu) [India], November 25 (ANI/PRNewswire): CoreStack, a global multi-cloud governance SaaS provider, today announced a USD 30 million 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 USD 45 million, following its Series A in March 2020, underscoring the growing enterprise demand for multi-cloud governance solutions. The funding will help CoreStack continue its rapid pace of growth and innovation with its AI-powered continuous and autonomous cloud governance at scale, while also making strategic headway with expansion into new markets. Avatar Growth Capital Managing Director Abhay Havaldar will join CoreStack's Board of Directors, upon required legal clearances.

"CoreStack's unique and innovative end-to-end cloud governance platform is a trail-blazer in the industry. The rapid adoption of CoreStack by enterprises endorses the transformative value that the solution is able to provide, and we're truly impressed with the leadership team and the progress the company has been able to make," 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 proactive approach to AI-powered cloud native governance utilizes a unique cloud-as-code approach, orchestration frameworks, deep AI/ML, and patented connector-less model.

Ezhilarasan Natarajan, CEO of CoreStack, said," 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. We are thrilled that we can further expand and innovate, thanks to the new partnership with Avatar Growth Capital, as well as the continued support of our existing investors. We are excited to expand our footprint of over USD 1 billion in cloud governed through CoreStack, and relentlessly pursue our goal of becoming the benchmark technology that customers trust."

The Series B financing is a result of CoreStack's significant advances in product innovation, remarkable customer growth, and partnerships with Amazon AWS, Microsoft Azure and Google Cloud.

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.

This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Vihasta: an initiative by Sanjeev Ojha t...
UCWL Inaugurates State-of-the-Art Cement...
Admissions for CA and CMA Courses Begin ...
USISPF Announces the Appointment of Mark...
'Healthcare, education and agriculture' ...
Solana (SOL), Shiba Inu (SHIB) and Retik...
More...
 
INDIA WORLD ASIA
HC stays opening of liquor vend on Gurud...
ASI continues survey at Bhojshala Comple...
Ten dead as taxi rolls down gorge on Jam...
'Was unwell, not being given treatment,'...
J-K: LG Manoj Sinha expresses deep shock...
'ED wants AAP's Lok Sabha strategy from ...
More...    
 
 Top Stories
"I look forward to hearing your per... 
Maharashtra: Congress leader Shivra... 
CKOSMIC Health City: Leading the Fi... 
Delhi Court calls for action agains... 
"Sweetest fruit of patience": Kriti... 
Uttarakhand: CM Dhami holds road sh... 
TDP announces list of candidates fo... 
HD Deve Gowda says BJP-JD(S) joint ...