CoreStack raises $30 million in series B funding

CoreStack, a multi-cloud governance SaaS provider, has raised $30 million in series B funding round led by Avatar Growth Capital.

The round also saw participation from Dallas Venture Capital (DVC), Iron Pillar, and other angel investors. This brings CoreStack’s total funding to $45 million, following its Series A in March 2020.

CoreStack wants to use the funding for growth and innovation with its AI-powered autonomous cloud governance at scale, while also looking at expansion into new markets.

“We are thrilled that we can further expand and innovate, thanks to the new partnership with Avatar Growth Capital, as well as the continued support of our existing investors, Ezhilarasan Natarajan,” CEO, CoreStack, said.

During the funding, Avatar Growth Capital’s managing director, Abhay Havaldar will join CoreStack’s board of directors after required legal clearances.

“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,” Abhay Havaldar, managing director, Avatar Growth Capital, said.

The company’s take on AI-powered cloud native governance uses cloud-as-code approach, orchestration frameworks, deep AI/ML, and connector-less model.