Funds Will be Used to Fuel the Transformation
of Kubernetes Management at Scale Across Data Centers, Cloud, and
the Edge
Spectro Cloud has Grown Annual Recurring
Revenue (ARR) by Triple Digits Year-over-Year for Three Consecutive
Years
Spectro Cloud, a leader in modern multi-cluster Kubernetes
management at scale across a variety of deployment environments,
including on-premises hardware, single and multi-cloud, and the
edge, today announced it has completed a $75 million Series C
funding round led by Growth Equity at Goldman Sachs Alternatives
with participation from existing Spectro Cloud investors. The
investment comes at a turning point of complexity in the IT
industry, with the evolution from legacy, virtual machine
(VM)-based applications to a containerized, cloud native ecosystem,
with artificial intelligence (AI) driving an explosion of use at
the edge.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241119538933/en/
Spectro Cloud closes $75m Series C
funding round, led by Growth Equity at Goldman Sachs Alternatives.
Learn more at spectrocloud.com. (Graphic: Business Wire)
Leading organizations across industries (including technology,
manufacturing, retail, oil & gas, healthcare,
telecommunications, defense and intelligence agencies) are relying
on Spectro Cloud’s Palette software platform to help accelerate
their Kubernetes adoption. By helping companies improve operating
efficiency and more effectively run mission-critical application
workloads, Spectro Cloud has achieved three consecutive years of
triple-digit ARR growth.
“What IT leaders need today is a modern approach to
comprehensive, full lifecycle management for Kubernetes at scale,
one that is optimized to support the unique needs of data centers,
clouds, and the edge,” said Tenry Fu, CEO and co-founder of Spectro
Cloud. “We founded Spectro Cloud five years ago aiming to make
Kubernetes easy to manage and consume in any environment, and this
investment from Goldman Sachs is validation of the tremendous
opportunity we have ahead of us.”
“In the past five years, Spectro Cloud has established itself as
a leader in helping organizations realize the true potential of
Kubernetes and cloud native technologies, making it more accessible
and manageable at scale, across any environment,” said Michael
Reilly, an Investor at Growth Equity at Goldman Sachs Alternatives
who will be joining Spectro Cloud’s Board of Directors. “The
incredible success Tenry and his team have achieved proves that
enterprises are realizing the value. We are excited for the
opportunity ahead in multi-cluster environments, especially bare
metal deployments in data centers for VM and GPU management, and AI
inference at the edge, which could drive tremendous growth.”
Spectro Cloud will use its Series C funding to accelerate
product innovation, particularly in the uniquely complex area of
edge computing, and to invest in continuing to offer award-winning
customer experience and support, and scale new go-to-market
partnerships and technology alliances.
To see Spectro Cloud’s Palette platform in action, book a demo
at spectrocloud.com or visit booth #1396 at AWS re:Invent in Las
Vegas, and booth #639 at Gartner IOCS in Las Vegas.
Read the announcement blog here.
About Spectro Cloud
Spectro Cloud uniquely enables organizations to deploy and
manage Kubernetes in production, at scale. Its Palette enterprise
Kubernetes management platform gives Platform Engineering, IT
Operations and DevOps teams effortless control of the full
Kubernetes lifecycle. With support for both VM and container
workloads, Palette is a truly unified management platform across
clouds, data centers, bare metal and edge environments. IT
Operations teams are empowered to support their developers with
curated Kubernetes stacks and tools based on their specific needs,
with granular governance and enterprise-grade security. Spectro
Cloud is a Gartner Cool Vendor, CRN Tech Innovator, and a ‘leader’
and ‘outperformer’ in GigaOm’s 2024 Radars for Edge Kubernetes and
Managed Kubernetes.
Co-founded in 2019 by CEO Tenry Fu, Vice President of
Engineering Gautam Joshi and Chief Technology Officer Saad Malik,
Spectro Cloud is backed by Alter Venture Partners, Boldstart
Ventures, Firebolt Ventures, Growth Equity at Goldman Sachs
Alternatives, NEC and Translink Orchestrating Future Fund, Qualcomm
Ventures, Sierra Ventures, Stripes, T-Mobile Ventures, TSG and
WestWave Capital.
For more information, visit https://www.spectrocloud.com or
follow @spectrocloudinc and @spectrocloudgov on X.
About Growth Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in
alternatives globally, with over $500 billion in assets and more
than 30 years of experience. The business invests in the full
spectrum of alternatives including private equity, growth equity,
private credit, real estate, infrastructure, hedge funds and
sustainability. Clients access these solutions through direct
strategies, customized partnerships, and open-architecture
programs. The business is driven by a focus on partnership and
shared success with its clients, seeking to deliver long-term
investment performance drawing on its global network and deep
expertise across industries and markets. The alternative
investments platform is part of Goldman Sachs Asset Management,
which delivers investment and advisory services across public and
private markets for the world’s leading institutions, financial
advisors and individuals. Goldman Sachs has over $3.1 trillion in
assets under supervision globally as of September 30, 2024. Since
2003, Growth Equity at Goldman Sachs Alternatives has invested over
$13 billion in companies led by visionary founders and CEOs. The
team focuses on investments in growth stage and technology-driven
companies spanning multiple industries, including enterprise
technology, financial technology, consumer and healthcare.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241119538933/en/
PR contacts: Spectro Cloud: Ant Newman –
ant@spectrocloud.com
Goldman Sachs: Victoria Zarella – victoria.zarella@gs.com
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