Seattle-based venture-backed startup CoreStack announced an $8.5 million Series A funding round, which brings the company’s total funding to $13 million and will help the company expand its sales and marketing efforts as well as accelerate product development. As a result of the round, Naya Ventures Managing Director Dayakar Puskoor will join CoreStack’s Board of Directors.
A record year of growth
The Series A financing follows a record year of growth for CoreStack which saw a rapidly expanding roster of enterprise clients across the US, Europe, and India, key executive appointments, and significant market traction with enterprises adopting CoreStack as a Governance landing zone for large scale cloud adoption. Ezhilarasan Natarajan, CEO of CoreStack said,
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“As enterprises rapidly embrace the cloud as a part of their digital transformation initiatives, there is an increasing need for continuous and autonomous governance across compliance, security, operations, cost, and consumption. We’re at the cutting edge of this innovation, as has been substantiated by recent recognitions by Gartner, but we fully recognize we can’t do this alone. The financial partnership and enterprise expertise of Naya Ventures as well as the continued support of Z5 Capital and other investors will immensely help to accelerate the execution of our vision. We’re beyond thrilled and I join the entire CoreStack team in warmly welcoming Naya Ventures on board.”