Thursday, October 19, 2017

Cloud infrastructure startup tops $75m in funding

Organisation is targeting enterprises going through the “massive shift” of moving from the data centre to the public cloud.

Software-defined cloud orchestration startup Fugue has closed its Series D funding round in which secured $41m.

The company has now in total received more than $75m from financing rounds, from investors that include New Enterprise Associates (NEA), Maryland Venture Fund and new investor Future Fund, the sovereign wealth fund of Australia.

Fugue said it will use the money from Series D to invest in expanding its market presence and accelerate product development.

The company said the funding also comes as it prepares to launch new enterprise-grade cloud infrastructure automation products.

Targeting enterprises adopting public cloud ecosystems, Fugue’s main product is also named Fugue and is a software-defined cloud orchestration and enforcement system designed to simplify cloud infrastructure complexity at scale.

Ron Bernal, venture partner for NEA, said: “Cloud adoption is moving at a breath-taking pace, and enterprises are running into challenging hurdles when attempting to operate in the cloud at scale, impeding velocity of application delivery and, ultimately, their ability to compete effectively.

“With its patented approach to solving modern-day cloud challenges, Fugue is well positioned to help enterprises fully realise the potential of the public cloud for the new era of agility and innovation.”

Fugue Co-founder and CEO, Josh Stella, said: “We developed Fugue with the vision that modern cloud architectures must be highly flexible, allow for innovation at velocity, and deliver always-on resiliency – all while operating at the scale enterprises demand.

“The massive shift from the data centre to the public cloud, combined with the constant introduction of new cloud service offerings has created a complicated landscape for enterprise users to navigate.

“Fugue solves this complexity by giving the enterprise user the ability to provision, operate, enforce, and terminate cloud workloads with unprecedented ease and control.”

Fugue was founded in 2013 and it is based in Frederick, MD, Washington, D.C., and Silicon Valley, CA.