Virtualization Technology News and Information
RackWare Secures $10M Series B Funding to Modernize Cloud Management

RackWare, the leader in enabling comprehensive cloud management for the enterprise, today announced the close of a $10M Series B round of funding led by Signal Peak Ventures, with additional funding from Kickstart Seed Fund and Osage Venture Partners. RackWare will utilize the funding to enhance and accelerate product development and to expand sales, marketing, partnerships and customer support teams. 

Guided by CEO Sash Sunkara, a female executive with a proven track record in technology and business development, RackWare has emerged as a mainstay for enterprise IT teams seeking to manage their on-premise, private-cloud and public-cloud applications on one platform. Customers include Blue Cross Blue Shield of CA, Coca-Cola, IBM SoftLayer, HBO, Crayola and Zebra.

By focusing on Fortune 500 enterprise clients through OEM partnerships including CenturyLink and VMware, RackWare is actively being deployed in some of the world’s largest companies. The company’s most recent $10M round of funding follows $5.3M of prior funding raised and will be issued at a time the company is experiencing significant year-over-year top-line revenue growth and customer adoption.

“Our vision is to enable global enterprises to achieve true data center cloud adoption with use cases such as disaster recovery, backup, scaling and migration,” said RackWare Founder and CEO Sash Sunkara. “Bringing on Signal Peak Ventures and Ron Heinz provides RackWare with an experienced investor and operator to bolster our team. By investing in the right people and technology, RackWare is poised to significantly augment our already strong market momentum.”

“RackWare continues to push the boundaries of what is possible in IT automation and cloud intelligence,” said Signal Peak Ventures Managing Partner Ron Heinz. “Its flexibility, ease of use and fast implementation are the best in the industry, and its products have been vetted by a long list of brand-name customers. With unparalleled distribution channels, market access and superior technology, we’re excited to see where RackWare will go next.”

By enabling IT to manage all applications — regardless of location — in one basket, RackWare modernizes enterprise IT one data center at a time. IT teams can migrate physical workloads to the cloud, migrate between clouds, scale in and out automatically, and merge backup with disaster recovery, among other functionalities. This holistic menu of integrated offerings enables enterprises to speed their development cycles and sharpen their competitive edge.

“Enterprise cloud computing needs a holistic, hybrid solution, and by streamlining mission-critical cloud management operations, RackWare is earning a permanent space on the virtualized enterprise rack,” said Gavin Christensen, managing partner at Kickstart Seed Fund. “As RackWare continues to grow in terms of offerings and market share alike, we are looking forward to seeing how the marketplace itself will be transformed by RackWare’s innovative leadership.”

“RackWare continues to benefit from being an early mover in a massive space,” said Nate Lentz, managing partner at Osage Venture Partners. “Its leading position in the partnership ecosystem, best-of-breed technology, Fortune 500 clients and world-class team put it in a prime position to drive the entire cloud management market forward.”

Published Tuesday, September 13, 2016 9:53 AM by David Marshall
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