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Corestack Closes $30 Million Series B Financing Round Led By Avatar Growth Capital

Corestack Closes $30 Million Series B Financing Round Led By Avatar Growth Capital

11/23/21, 4:04 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgbellevue
Money raised
$30 million
Round Type
series b
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, underscoring the growing enterprise demand for multi-cloud governance solutions. 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. Avatar Growth Capital Managing Director Abhay Havaldar will join CoreStack’s Board of Directors, upon required legal clearances.

Company Info

Company
Core Stack
Location
bellevue, washington, united states
Additional Info
CoreStack, an AI-powered next generation multi-cloud governance solution, empowers enterprises to unleash the power of cloud on their terms by helping them rapidly achieve continuous and autonomous cloud governance at scale. CoreStack enables enterprises to realize outcomes across FinOps, SecOps and CloudOps, such as 40% decrease in cloud costs and 50% increase in operational efficiencies by governing operations, security, cost, access, and resources. CoreStack also assures 100% compliance with standards such as ISO, FedRAMP, NIST, HIPAA, PCI-DSS, AWS CIS & Well-Architected Framework. CoreStack works with many large global customers across multiple industries including Financial Services, Healthcare, Retail, Education, Telecommunications, Technology and Government. To-date, CoreStack has helped enterprises govern over $1 billion in cloud consumption annually. The company is backed by the world's leading global venture investors and strategic advisors including the ex-CIO of Microsoft and ex-CEO of Wipro. CoreStack is a recent recipient of the 2021 Gold Stevie American Business Awards in Cloud Infrastructure, 2021 Stratus Award as Cloud Disruptor and 2021 Globee Gold Winner as the Most Innovative Company of the Year in IT Cloud/SaaS. In addition, CoreStack won the 2021 Best New Products American Business Award in Cloud Governance as well as Golden Bridge Awards for Cloud Computing/SaaS Innovation and Cloud Security Innovation. Gartner recognized CoreStack in the 2021 Market Guide for Cloud Management Platforms as well in the Cloud Management Platforms Magic Quadrant 2020. IDC recognized CoreStack as the 2020 Innovator in Cloud Management Solutions. The Company is a three-time TiE50 Winner and a Emerge 50 League-10 NASSCOM award recipient in Enterprise Software. CoreStack is a Google Cloud Build Partner, Microsoft Azure Gold & Co-Sell Partner, and Amazon AWS Advanced Technology Competency Partner. For more information, visit www.corestack.io

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