Corestack closes $30 million funding round led by Avatar Growth

Corestack closes $30 million funding round led by Avatar Growth

Global multi-cloud governance SaaS provider, CoreStack said it has raised 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 since its Series A in March 2020, underscoring the growing enterprise demand for multi-cloud governance solutions.

The funding will help CoreStack continue the rapid pace of growth and innovation with its AI-powered continuous and autonomous cloud governance. It will also help in making strategic progress by expanding into new markets.

Abhay Havaldar, Managing Director, Avatar Growth Capital, said, “The rapid adoption of CoreStack by enterprises supports the transformative value that the solution is capable of providing.”

Corestack CEO Ezhilarasan Natarajan said the adoption of enterprise cloud solutions has seen a massive uptick since the pandemic. He added that Corestack is a leader in helping these companies unleash the power of the cloud through governance in compliance, security, operation, cost and consumption.

“We are excited to expand our footprint to more than $1 billion in the cloud powered through CoreStack, and work tirelessly towards our goal of becoming the benchmark technology customers trust.”

The Series B financing is the result of significant progress from CoreStack in product innovation, remarkable customer growth and partnerships with Amazon AWS, Microsoft Azure and Google Cloud. Despite the pandemic, CoreStack has seen significant acquisitions of key executive appointments as well as new customer logos, and continues to see adoption across large enterprises.

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