As the demand for cloud computing solutions grows, Bellevue-based cloud governance startup CoreStack is growing too.
On Tuesday, CoreStack announced the close of its $30 million Series B funding round, which was led by Avatar Growth Capital. The funding round comes one year after the company raised $4 million from investors, and follows the company’s Series A from March 2020. Altogether, CoreStack has raised $45 million in funding to date.
CoreStack’s cloud software helps companies manage and automate their cloud operations. It can help companies deploy to the cloud and then scale its cloud presence seamlessly. The company’s software is also built to be compliant with regulations like ISO, FedRAMP, NIST, HIPAA and more — which allows its users to ensure native cloud compliance.
“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,” Abhay Havaldar of investor Avatar Growth Capital said in a statement. “We are excited to partner with CoreStack in its mission to help its rapidly growing customer base maximize their ROI on cloud.”
CoreStack says it saw significant customer growth over the past year. The company also partnered with several major cloud providers, including Amazon AWS, Microsoft Azure and Google Cloud. The new Series B funding will be used to help continue this growth by supporting the development of new product features and expansion into new markets.
“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,” CoreStack CEO Ezhilarasan Natarajan said in a statement.
“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,” Natarajan continued. “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.”
