Hybrid Platform Empowers Fortune 500 Companies to Seamlessly Migrate, Protect and Scale Enterprise IT Across Public & Private Clouds
FREMONT, Calif.–(BUSINESS WIRE)–September 13, 2016–
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.”
RackWare enables comprehensive cloud computing management for the enterprise. Its solutions bring intelligence and automation to the cloud, to improve availability for enterprises, provide greater flexibility for enterprise IT users and reduce costs for enterprise IT providers. The RackWare approach enables users to dynamically scale physical, virtual and cloud resources across private and public environments as computing needs fluctuate. RackWare’s unique cloud management platform allows enterprises to use the public cloud as just another resource for their internal infrastructure – for disaster recovery, as well as scaling purposes. With its unique ability to be platform and cloud agnostic, RackWare’s flagship solution, the RackWare Management Module (RMM), allows workloads to be ported between any platform, virtual or physical, and any cloud. RackWare has moved thousands of workloads for hundreds of customers and has partnerships with large Service Providers and VARs. RackWare was founded in 2009 and is based in Fremont, Calif. For more information, visit rackwareinc.com.
About Signal Peak Ventures
Signal Peak is a venture capital and growth equity firm with over $600 million of capital under management. Based in Salt Lake City, Utah, the firm invests in Information Technology companies helping passionate entrepreneurs build enduring value. Visit us at SPV.com.
About Osage Venture Partners
Osage Venture Partners (OVP) invests in early stage, business-to-business (B2B) software companies from its offices just outside of Philadelphia, PA. With over $150M under management, OVP seeks to invest in determined and creative entrepreneurs and provide them with the assistance required to build high-growth businesses. For more information, visit osagepartners.com.
About Kickstart Seed Fund
Kickstart is a seed-stage venture capital focused on investing in the rising tech powerhouse of Utah and the West. We support the best entrepreneurs in our region with capital, connections and intelligence to launch hyper growth companies into the world. For more information, see kickstartfund.com.