CoreStack, a Seattle-based venture-backed startup that empowers enterprises to achieve continuous and autonomous cloud governance at scale, today announced an USD 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 USD 13 million and will help the company aggressively expand its sales and marketing efforts as well as accelerate product development. Naya Ventures Managing Director Dayakar Puskoor will join CoreStack’s Board of Directors.
The Series A financing follows a record year of growth for CoreStack which saw a rapidly expanding roster of enterprise clients across U.S., Europe and India, key executive appointments, and significant market traction with enterprises adopting CoreStack as Governance landing zone for large scale cloud adoption. Gartner has recognized Corestack both in its Magic Quadrant for Cloud Management Platforms -2020 and Cool Vendors in Cloud Computing -2019. The Company was recently awarded a US Patent on Orchestration of Multiple Cloud Platforms and Services. CoreStack is a Microsoft Azure Gold & Co-sell Partner and Amazon AWS Advanced Technology Partner.
“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. 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.”
CoreStack enables enterprises to continuously and autonomously keep their cloud infrastructure compliant with industry standards and regulations while providing a significant boost in IT operational efficiencies.