Kubernetes management platform creator Rancher Labs announced a $40 million Series D funding round. Telstra Corporation is one of its investors which is also a Rancher Labs customer and is Australia’s largest telecommunications company. Existing investors Mayfield, Nexus Venture Partners, GRC SinoGreen, and F&G Ventures are also participated in the funding round bringing total funding to date to $95 million.
Innovation and Expansion
According to Rancher Labs statement, the company will use the funds to continue executing against their Run Kubernetes EverywhereTM strategy, specifically in three areas:
- Accelerate Innovation: Leveraging Kubernetes as the common computing standard, the company will continue to innovate in key areas including heterogeneous cluster federation, fleet management, and Kubernetes at the edge.
- Go-To-Market Expansion: The company will expand sales coverage, marketing, finance, operations, customer success, and customer support. Additionally, the company has plans to expand geographic coverage within and beyond the fourteen countries where they currently operate.
- Market Expansion: Leveraging their leadership in Kubernetes at the edge, the company will work with leading technology companies to develop innovative solutions in markets including 5G, digital factories, connected cars, video surveillance, and medical research.
Sheng Liang, CEO at Rancher Labs said,
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“In 2019, we experienced 169% year-on-year revenue growth, and this round of funding is the ultimate validation of the market and our unique technologies. Just as Linux became the standard computing platform for the data center, cloud, and devices in the 2000s, we fundamentally believe Kubernetes is fast becoming the ubiquitous enterprise computing platform for multi-cloud, heterogeneous IT environments in the 2020s.”