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Home > Cloud Computing > Upbound announced $60m in new funding

Upbound announced $60m in new funding

Upbound announced that the company has raised $60 million in new funding led by Altimeter Capital.


Erdem Yasar Erdem Yasar
December 2, 2021
1 min read
Upbound announced $60m in new funding

Cloud management platform company behind the open-source Crossplane project, Upbound announced that it has raised $60 million in new funding. The new funding includes a Series B round led by Altimeter Capital with participation from GV, Intel Capital, and Telstra Ventures. The funding round comes after the company’s announcement of 10x quarter-over-quarter recurring revenue growth.

Raised $69M in total

Upbound, founded by Bassam Tabbara in 2017, has raised $69 million in total. The company also stated that the funding round will be used to broaden its worldwide go-to-market efforts, accelerate product development, and expand its services and support offerings.

Bassam Tabbara, founder and CEO of Upbound
Bassam Tabbara, founder and CEO of Upbound

Its Universal Cloud Platform allows its users to transform the internal operations into a cloud platform easily. It also simplifies infrastructure management and empowers developers with self-service capabilities. The company introduced Crossplane in 2018 as a Universal Control Plane for the cloud computing era. Users can integrate Upbound to their software delivery pipelines enabling “GitOps for everything” workflows. Upbound and Crossplane work out of the box with thousands of tools and products in the cloud-native ecosystem. Bassam Tabbara, founder and CEO of Upbound said,

« We started Upbound four years ago realizing the industry was at a pivotal moment, and that customers more than ever wanted to consume services and deploy abstractions across multiple vendors. We see platform engineering teams everywhere building their own internal modern day Heroku. Today’s funding announcement ensures we continue to help them on their journey with innovative products and services. »

See more Cloud Computing News


Tags: Upbound
Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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