Seattle and Chennai based enterprise cloud governance technology startup CoreStack, which has a large R&D Centre in Chennai, revealed that it had secured $8.5 million in the funding round of Series A led by the Naya Ventures, with participation from strategic investors.
The company revealed that it plans to use the funding to add around 20 more cloud specialists to its existing team of 64 in its Chennai facility by the end of 2020.
The latest move will also bring the MD, Dayaka Puskoo, Naya Ventures to be a part of the CoreStack Board of Directors.
“CoreStack has a huge potential for upward growth with the increasing demand for its autonomous, scalable, and profitable cloud governance solution,” said Dayakar. “We believe enterprises will continue to invest in multiple clouds, protected with strong governance. CoreStack is driving the marketplace, and we are excited to partner and help build this great enterprise,” he added.