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Today, enterprise microservices platform provider Greymatter.io Inc announced that it has closed a $7.1 million series A funding round led by Elsewhere Partners, which it will use to expand globally.
Greymatter.io has gathered significant interest from investors because it delivers a microservices-friendly, infrastructure management solution that IT teams can use to build application and API networks.
It can also enable users to automate repetitive tasks and manage application network configurations with an agnostic service mesh, gateway and application infrastructure as code capability.
For enterprises, it gives users a holistic perspective of all the infrastructure used throughout their network, so they can more effectively manage and secure individual components.
The microservices challenge
Microservices have become increasingly popular in recent years, as more organizations seek to use them to build scalable applications. However, this has come at the cost of increased complexity, that’s made it more difficult to manage and secure hybrid environments.
Research shows that 50% of enterprises report difficulty integrating cloud and on-premises environments and 54% believe talent with this expertise is expensive and difficult to find.
“The need to control, secure and monitor increasingly complex networks is intensifying. Embracing solutions to increase agility create a massive surge in configuration sprawl and new security, governance and risk concerns that too-often continue to go unchecked,” said founder and CEO of Greymatter.io Chris Holmes.
“As the number of clouds, on-premise systems, applications and endpoints continues to proliferate, so do the infrastructure management burdens. IT operations teams need vetted partners who can deliver end-to-end tools that can scale to meet their evolving needs — especially the ones they don’t even know about yet.”
It is these infrastructure management burdens that Greymatter.io was designed to manage by giving users a tool to monitor infrastructure such as endpoints, applications APIs, event infrastructure and databases, with AI telemetry and tapping to generate insights into health and usage trends.
This approach ensures that enterprises can manage and control resources deployed throughout a hybrid environment and optimize the use of computing resources.
A look at the market
The announcement comes as researchers expect the cloud microservices market to grow from $831.45 million in 2020 to $2,701.36 million by 2026 as more organizations embrace cloud services post COVID-19.
Greymatter.io is competing against many other providers in the space including Solo.io, which offers an Envoy Proxy-based API Gateway for managing application traffic at the network’s edge called Gloo Edge and Gloo Mesh, an Istio-based service mesh to increase the visibility over distributed applications.
Solo.io is one of the most significant providers in the market, having achieved a $1 billion valuation last year following a $135 million series C investment.
Another significant competitor is application networking company Tetrate.io, which provides a platform for monitoring and managing applications configurations and access controls in cluster, cloud and data center environments.
Since its launch in 2015, Tetrate.io has grown quickly, having most recently announced raising $40 million in series B funding last year.
However, Holmes argues that Greymatter.io is the only solution that offers a simple approach to managing hybrid cloud environments. “Other solutions trying to solve these problems are incredibly complex to implement and often lead to fragmented execution with gaps in dev skill sets.”
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