CoreStack, a global multi-cloud governance SaaS provider, today announced a $30 million Series B funding round led by Avatar Growth Capital, with 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 continuous and autonomous cloud governance at scale, while also making strategic headway with expansion into new markets, it said in a press release. Avatar Growth Capital Managing Director Abhay Havaldar will join CoreStack’s Board of Directors, upon required legal clearances.
“Abhay Havaldar, Managing Director of Avatar Growth Capital said, “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.”
Ezhilarasan Natarajan, CEO, CoreStack, said, ”Adoption of enterprise cloud solutions has witnessed a massive uptick post-pandemic, 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.”
Despite the pandemic, CoreStack saw significant acquisition of new customer logos, along with key executive appointments, and continued adoption at large enterprises, it said in a press release. CoreStack is a Google Cloud Build Partner, Microsoft Azure Gold and Co-Sell Partner, and Amazon AWS Advanced Technology Competency Partner.
