CoreStack announces $8.5m funding round for rollout of Cloud Governance Solutions
Seattle-based CoreStack has announced an $8.5 million Series A funding round led by Naya Ventures alongside participation from other strategic investors.
The investment round will bring CoreStack’s total funding to $13 million, and will be used to help the company expand its sales and marketing efforts, according to the company.
The company also announced that Naya Ventures Managing Director Dayakar Puskoor will join CoreStack’s Board of Directors.
The Series A financing follows a year of growth for CoreStack, which saw an expanding roster of enterprise clients across US, Europe and India, executive appointments, and market traction with enterprises adopting CoreStack as Governance landing zone for large-scale cloud adoption.
“CoreStack’s offering is well-timed with the rapidly increasing demand for enterprise cloud governance,” said Puskoor, Managing Director of Naya Ventures.
“We believe enterprises will continue to ensure that their increasing investment in multiple clouds is protected with strong governance.
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“The company has made impressive strides in the marketplace and we are excited to partner with CoreStack in their journey as they continue building a great company.”
The company added that it enables enterprises to keep their cloud infrastructure compliant with industry standards and regulations.
“As enterprises rapidly embrace cloud as a part of their digital transformation initiatives, there is an increasing need for continuous and autonomous governance across compliance, security, operations, cost and consumption,” said Ezhilarasan Natarajan, CEO of CoreStack.
“We’re at the cutting edge of this innovation, as has been substantiated by recent recognitions by Gartner, but we fully recognise we can’t do this alone.
“The financial partnership and enterprise expertise of Naya Ventures as well as the continued support of Z5 Capital and other investors will immensely help to accelerate the execution of our vision.
“We’re beyond thrilled and I join the entire CoreStack team in warmly welcoming Naya Ventures on board.”
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