Bellevue-based cloud software company CoreStack has raised a $30 million Series B round, becoming the latest cloud technology company to attract big investments in the Seattle area, which is home to cloud giants like Microsoft Corp. and Amazon.com Inc.
CoreStack has raised a total of $45 million since it was founded in 2016 and plans to use the latest funding round for growth, innovation and expansion into new markets.
"We are thrilled that we can further expand and innovate," Ezhilarasan Natarajan, founder and CEO of CoreStack, said in a news release. "We are excited to expand our footprint of over $1 billion in cloud governed through CoreStack, and relentlessly pursue our goal of becoming the benchmark technology that customers trust.”
In September, Seattle-based cloud automation company SkyKick raised $130 million and planned to add 100 people to its roughly 250-person team over the course of a year. Seattle-based cloud automation and forecasting startup Archera raised $7 million that same month.
CoreStack offers support with cloud costs, security threats and compliance. The company also provides clients insights into their cloud use. CoreStack's clients include GE Healthcare and Bosch.
Avatar Growth Capital led the round, while Dallas Venture Capital, Iron Pillar and others participated. Abhay Havaldar, Avatar's managing director, will join CoreStack's board of directors "upon required legal clearances."
“The rapid adoption of CoreStack by enterprises endorses the transformative value that the solution is able to provide, and we’re truly impressed with the leadership team and the progress the company has been able to make,” Havaldar said in a news release. “We are excited to partner with CoreStack in its mission to help its rapidly growing customer base maximize their ROI on cloud.”
On its website, CoreStack has open roles in product, engineering, marketing and customer success.
