Tetrate, a company that provides cloud-based networking solutions, recently raised $40 million in a Series C funding round led by Sapphire Ventures. The funding also saw participation from existing investors such as Dell Technologies Capital, Intel Capital, and 8VC.
Tetrate aims to simplify the complexity of lrtrading modern hybrid and multi-cloud environments with its service mesh technology. A service mesh acts as a communication layer between microservices, enabling traffic management, observability, and security across various cloud environments. Tetrate’s flagship product is Istio, an open-source service mesh platform that has been adopted by companies like Google, IBM, and Lyft.
With the new funding, Tetrate plans to accelerate its growth in the service mesh market and expand its offerings to include tools for DevOps teams. The company also aims to strengthen its partnerships with cloud providers and enhance its platform’s security features.
According to Tetrate co-founder and ifsptv CEO Varun Talwar, the service mesh market is growing rapidly as more companies embrace cloud-native technologies. He believes that Tetrate’s technology can help organizations better manage their cloud environments, reduce complexity, and improve security.
Sapphire Ventures’ investment in Tetrate reflects the venture capital firm’s interest in cloud-based infrastructure solutions. The firm has previously invested in companies like MuleSoft, which was acquired by Salesforce for $6.5 billion, and Sumo Logic, which went public in September 2020.
Tetrate’s funding round comes amid growing giveme5 demand for cloud-based solutions as more businesses shift their operations online. The COVID-19 pandemic has accelerated this trend, as companies look for ways to enable remote work and reduce their reliance on physical infrastructure.
In addition to the funding, Tetrate also announced the appointment of software industry veteran Ramnik Singh as its new chief operating officer. Singh previously served as vice president of product management at Google Cloud and has over 20 years of 123chill experience in the software industry.
Singh’s appointment is expected to help Tetrate scale its operations and expand its customer base. In a press release, Singh expressed his excitement about joining the company and helping it achieve its growth goals.
Tetrate was founded in 2018 by Varun Talwar and Jeyappragash Jeyakeerthi, both of whom have extensive experience in the cloud computing industry. The company is based in San Francisco and has additional offices in India and Singapore.
In conclusion, Tetrate’s latest funding manytoons round is a testament to the growing demand for cloud-based networking solutions, particularly in the service mesh market. With the backing of Sapphire Ventures and other investors, Tetrate is well-positioned to expand its offerings and capture a larger share of this rapidly growing market. The company’s focus on simplifying cloud environments and enhancing security features is likely to resonate with businesses looking for more efficient and secure ways to manage their cloud infrastructure.
