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OpsCompass Closes $6.78 Million in Series A Funding, Investment Led by Elsewhere Partners

OpsCompass and Elsewhere Partners announced today that they have closed $6.78 million in Series A funding for the multi-cloud governance and compliance company. The round was led by Elsewhere Partners with participation from Dundee Venture Capital, Invest Nebraska, M25, Nelnet, and Nebraska Angels. OpsCompass will use the investment to accelerate product development, scale go-to-market capabilities, and take advantage of new trends and market demands.

"Our team has monitored this industry for some time and seen a significant change in market demand for cloud governance and compliance," said Sloane Child, vice president at Elsewhere Partners. "Moreover, we have been following leaders in the space who are delivering inventive, cloud-native solutions to enterprise clients. OpsCompass clearly understands this market and has already established impressive traction by landing numerous marquee customers."

OpsCompass serves as a cloud-operations guide for modern enterprises that seek to preserve the advantages of the cloud without sacrificing compliance, security, or their ability to manage costs. The company's SaaS solution provides the right information at the right time, and actionable insight into what to do next. It is simple to deploy, intuitive to use, and as flexible as the cloud itself. Across compliance, security, and cost management, OpsCompass empowers customers to fold cloud operations into existing processes with existing personnel.

"We've seen significant interest in our product from security services, cloud management providers, and the leading cloud services themselves", added Manny Quevedo, CEO of OpsCompass. "Our clients are moving critical workloads into multi-cloud environments and require enterprise-grade solutions reinforced by ongoing R&D and clear product evolution. The team at Elsewhere Partners understands this demanding pace and will provide invaluable expertise."

In addition to the investment, Kevin Cunningham, Elsewhere Operating Advisor, will join the OpsCompass Board of Directors. Cunningham was previously president and chief strategy officer of SailPoint Technologies, a company he co-founded in 2005 and led through an IPO in November 2017. Josh Stephens, Elsewhere Chief Technology Officer, will also join the OpsCompass operating advisory team. Stephens was previously vice president of technology and head geek at SolarWinds, one of the industry's leading technology monitoring companies.

Published Tuesday, March 03, 2020 9:02 AM by David Marshall
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