This brings CoreStack’s total funding to $45 million, following its Series A in March 2020.
The funding will be used for growth, expanding into newer markets and also for innovation.
“The rapid adoption of CoreStack by enterprises endorses the transformative value that the solution is able to provide,” said Abhay Havaldar, Managing Director of Avatar Growth Capital. “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. We are excited to partner with CoreStack in its mission to help its rapidly growing customer base maximize their ROI on cloud.”
CoreStack’s approach to AI-powered cloud native governance utilizes a cloud-as-code approach, orchestration frameworks, deep AI/ML, and patented connector-less model.
“Adoption of enterprise cloud solutions has witnessed a massive uptick post pandemic. CoreStack is leading the way in helping these companies unleash the power of cloud through governance across compliance, security, operations, cost, and consumption,” said Ezhilarasan Natarajan, CEO of CoreStack.
According to the company, despite the pandemic, CoreStack saw significant acquisition of new customer logos, along with key executive appointments, and continued adoption at large enterprises. CoreStack is a Google Cloud Build Partner, Microsoft Azure Gold & Co-Sell Partner, and Amazon AWS Advanced Technology Competency Partner.
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.
“VC business is all about doubling and tripling down on your winners. And that is precisely what Iron Pillar has done with CoreStack’s latest $30M financing,” said Mohanjit Jolly, partner, Iron Pillar.
Corestack’s product development is led from Chennai, India while the company has global clients with its headquarters in Bellevue, Washington.
