Stacklet, a leader in cloud governance and optimization as code, announced it has raised $14.5 million in Series B funding. This round, led by SineWave VC and with participation from Strait Capital, Uncorrelated Ventures, Capital One Ventures, Foundation Capital, and Relentless Ventures, brings Stacklet’s total funding to $36.5 million.
Stacklet was co-founded by the same core creative team behind CNCF’s Cloud Custodian open source project and the company saw 3x revenue growth in the last fiscal year, driven by recognizable names in cloud like Avalara, ETS, Madive, REPAY and several fortune 500 companies. This new investment will accelerate product development and expand sales and marketing efforts for Stacklet’s cloud governance as code platform.
Stacklet has been crucial in helping organizations capitalize on this trend, enhancing efficiency and reducing costs. And organizations reduced cloud expenses by up to 50% in just 90 days with Stacklet, while also minimizing compliance and security risks. And Stacklet excels with its broad cloud resource coverage, proactive actions, automated remediation workflows, and preventative guardrails to eliminate waste and risks.
KEY QUOTES:
“As organizations strive to scale and optimize their cloud environments in uncertain times while continuing to innovate with new technologies, the need for streamlined and automated governance becomes increasingly apparent. We are incredibly enthusiastic about this new investment, which underscores our unwavering commitment to our mission. This funding will serve as a catalyst, enabling us to assist more organizations in managing their cloud operations effectively and securely.”
- Travis Stanfield, co-founder, and CEO of Stacklet
“Stacklet has enabled our development and data engineering teams to innovate efficiently and securely in the cloud in a self-service manner. Stacklet helps us implement the right policies and guardrails for continuous cost optimization and risk reduction, all without hindering development velocity.”
- Tony Pekala, Associate Vice President at ETS
“Stacklet has demonstrated outsized performance in a challenging market environment. Its phenomenal revenue growth and expanding customer base speaks to the tangible benefits of the Stacklet solution. We are excited to partner with Stacklet on their ongoing journey and help unlock additional opportunities in both the enterprise and public sectors.”
- Yanev Suissa at SineWave
“I’ve seen Stacklet help organizations embrace more cloud, more quickly, without overspending or taking on excessive risk. Stacklet’s open source is a strategic differentiation for customers who can rely on a vibrant community backing an open standard. I’m excited to partner with Stacklet at this critical juncture as their traction inflects.”
- Salil Deshpande at Uncorrelated Ventures
“Cloud governance and cost management are becoming top priorities for organizations as the scale and complexity of cloud usage grow. Stacklet has distinguished itself from day one with a platform approach that enables customers to govern and optimize costs, compliance, and security all in one place, rather than relying on multiple-point solutions. Its connection to the Cloud Custodian community further establishes Stacklet as the most comprehensive solution we’ve seen in the market.”
- Julia Kagan at Strait Capital
