The cloud computing market is getting another big boost this week as CloudZero announced its latest round of venture capital funding. The cloud Startup has raised funds to beef up its enterprise cloud offerings.
According to Boston Business Journals, the Boston-based SaaS (Software-as-a-service) site reliability management provider has scored a $5 million in its latest Series A funding round. Matrix Partners and Underscore VC led that funding round.
As part of the deal, Matrix Partners’ Tim Borrows and Underscore VC’s Michael Skok will be joining CloudZero’s board of directors.
The startup plans to use the fresh funds to open its planned company headquarters in Boston and to increase its investment in the open source world.
About CloudZero
Founded in 2016 and based in Boston, Massachusetts, CloudZero is SaaS site reliability management platform that allows companies to make cloud system resilient and secure. The company’s core technology platform continuously models the fast-changing surface of today’s cloud computing environment. The system provides insights to better manage and deliver trusted cloud reliability.
CloudZeros’ platform is based on open source technology. But unlike the other technology providers in the market, CloudZero’s platform can predict system fragility, allowing IT engineers to optimize site reliability before trust is compromised.
The startup helps companies automatically distribute their data across various cloud servers and providers. The idea is that when one part of that IT system crashes, those companies won’t down with it, the Boston Business reported.
This is not the first time CloudZero has received funding from Matrix Partners and Underscore VC.
The startup has already raised $500,000 in seed funding from the two investors last September.
According to CrunchBase, CloudZero has made a total of $5.5 million in venture capital funding. The company has only two investors, Matrix Partners and Underscore VC.
In addition to its latest funding round, CloudZero also announced a new open source project, which they called CloudZero Reactor for AWS.
The newly announced open source project will enable the company’s technology platform to model an IT system’s surface, providing more useful insights about the past, present and even future state of the company’s IT systems, according to Finsmes.
Other cloud-related stories
CloudZero is not the only tech company in Massachusetts that making a huge name in the cloud computing space. The Waltham, Massachusetts-based Actifio is also hitting hard in the cloud front. Actifio, which develops copy data visualization software for the enterprise market, is just one of the state’s few $1 billion private companies.
The Boston-based CloudHealth Technologies is another startup that has been growing fast these days.
CloudHealth Technologies, according to the latest data from The Business Journals, is a cloud-based service management platform that allows companies to analyze, optimize and automate their IT infrastructure. The company has raised $46 million in its recent funding round led by the Menlo Park-based Kleiner Perkins Caufield & Byers.
