CloudBolt Software, the leading cloud management and integration solutions enterprise has recently announced generation of 35M funds in series B funding, comprising of both equity and venture debt. According to credible sources, the equity was ushered by Insight Partners, a global venture capital and private equity company. Also, the venture debt has been issued by Hercules Capital Inc., a renowned non-bank source of venture along with Bridge Bank, lender to leading SMBs and technology-focused ventures.
Jeff Kukowski, CEO of CloudBolt Software has stated that as enterprises expedite their investments in hybrid cloud, they face challenges around shadow IT, visibility and complex integrations in their IT and DevOps tools. Such factors demand a strong cloud management where enterprises must consistently secure, automate and optimize their cloud workloads while using their selected tools. He further added that the company is excited to partner with Insight Partners, Bridge Bank and Hercules as they are building their technology vision, facilitating their global expansion and investing in new partnerships to support enterprises anywhere in their course of hybrid cloud, multi-tool application.
Based on Gartner statistics, the cloud management platforms and tools market was valued over $1 billion in 2019 and is estimated to witness nearly 20% CAGR through 2022. Apparently, over the last 12 months, CloudBolt has flourished immensely in terms of doubled customer base, recognition as one of the fastest growing technology companies in North America by Deloitte and ranking in top 15% companies on Inc. 5000 list. Additionally, the company’s recent acquisitions of SovLabs and Kumolus have further strengthened its hybrid cloud management vision.
Apparently, CloudBolt has gained two powerful capabilities with these acquisitions. Firstly, a SaaS-based solution which allow businesses to visualize their public cloud environments like Azure and AWS and enhance them for security, cost and compliance. Secondly, a codeless integration platform, allowing IT to minimize the high cost and complexity of custom coding while offering better control over their integration strategy pertaining to emerging toolsets like HashiCorp Terraform, VMware vRealize Automation, etc.