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CoreStack, a global multi-cloud governance SaaS provider on Wednesday announced that it has raised $30 million in a Series B funding round led by Avatar Growth Capital.
The round also witnessed 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 help CoreStack continue its rapid pace of growth and innovation with its AI-powered cloud governance at scale, while also making strategic headway with expansion into new markets,” the company said in an official release.
Abhay Havaldar, Managing Director at Avatar Growth Capital will join CoreStack’s Board of Directors, upon required legal clearances.
“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 Havaldar.
“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,” Havaldar added.
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 $1 billion in cloud governed through CoreStack, and relentlessly pursue our goal of becoming the benchmark technology that customers trust,” added Natarajan.
The company’s proactive approach to AI-powered cloud native governance leverages a unique cloud-as-code approach, orchestration frameworks, deep AI/ML, and patented connector-less model.
The company has witnessed 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.
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