CoreStack is a cloud governance platform that uses artificial intelligence (AI) to help businesses manage their cloud infrastructure. The company recently announced that it has raised $30 million in growth capital to expand its platform and accelerate its global growth.
What is CoreStack?
CoreStack is a cloud governance platform that uses AI to help businesses manage their cloud infrastructure. The platform provides a unified view of all cloud resources, including multi-cloud, hybrid, and on-premises environments, to help businesses optimize their cloud usage and reduce costs.
The platform also automates compliance and security checks, ensuring that businesses remain compliant with industry regulations and best practices. CoreStack's AI-powered recommendations help businesses make informed decisions about their cloud infrastructure, enabling them to scale faster and more efficiently.
What is Growth Capital?
Growth capital is a type of funding that is used to help businesses expand and grow. Unlike traditional debt financing, growth capital is typically provided by investors who are looking to support high-growth companies.
Growth capital can be used for a variety of purposes, such as hiring new employees, expanding into new markets, or investing in new technology. It is often used by startups and early-stage companies that are looking to scale quickly.
Why Did CoreStack Raise $30 Million in Growth Capital?
CoreStack raised $30 million in growth capital to expand its platform and accelerate its global growth. The company has experienced significant growth in recent years, with a 400% increase in annual recurring revenue (ARR) and a 300% increase in customer acquisition in the last year alone.
The funding will be used to expand CoreStack's platform, including adding new features and capabilities, as well as to accelerate its global growth. The company plans to expand its sales and marketing efforts, as well as to invest in research and development to continue to improve its AI-powered platform.
Who Invested in CoreStack?
CoreStack's $30 million funding round was led by Avatar Growth Capital, with participation from existing investors including Volition Capital, Impact Engine, and Jungle Ventures.
Avatar Growth Capital is a growth equity firm that invests in technology companies with high-growth potential. The firm has a strong track record of investing in successful technology companies, including Airbnb, Stripe, and Uber.
What Does the Future Hold for CoreStack?
With its $30 million in growth capital, CoreStack is well-positioned to continue its rapid growth and expand its platform to meet the needs of businesses around the world. The company's AI-powered platform provides a unique solution to the challenges of managing cloud infrastructure, and its growth capital will enable it to continue to innovate and improve its platform.
As more businesses move to the cloud, the demand for cloud governance platforms like CoreStack is only going to increase. With its strong investor backing and innovative platform, CoreStack is poised to become a leader in the cloud governance space.
