CoreStack, a Bellevue, Washington-based global multi-cloud governance SaaS provider, 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.
Bringings 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: CloudEnablers Inc.
Raised: $30.0M
Round: Series B
Funding Month: November 2021
Lead Investors: Avatar Growth Capital
Additional Investors: Dallas Venture Capital (DVC) and Iron Pillar
Company Website: https://www.corestack.io/
Software Category: AI-powered next-generation multi-cloud governance solution
About the Company: CoreStack, an AI-powered next-generation multi-cloud governance solution, empowers enterprises to unleash the power of the 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 a 40% decrease in cloud costs and a 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.
Source: https://www.businesswire.com/news/home/20211123005625/en/CoreStack-Closes-30-Million-Series-B-Financing-Round-Led-by-Avatar-Growth-Capital