India: CoreStack raises $8.5m in Series A funding led by Naya Ventures

Photo: Bloomberg

Seattle and Chennai-based enterprise cloud governance technology startup CoreStack has raised $8.5 million in Series A funding led by Naya Ventures, with participation from other strategic investors, per an announcement.

The latest round brings CoreStack’s total funding to $13 million.

The funds will help the company expand its sales and marketing efforts as well as accelerate product development, the startup said in a statement. As part of the investment, Naya Ventures Managing Director Dayakar Puskoor will join CoreStack’s board of directors, it added.

“As enterprises rapidly embrace the cloud as a part of their digital transformation initiatives, there is an increasing need for continuous and autonomous governance across compliance, security, operations, cost and consumption,” said Ezhilarasan Natarajan, CEO of CoreStack.

“The financial partnership and enterprise expertise of Naya Ventures as well as the continued support of Z5 Capital and other investors will immensely help to accelerate the execution of our vision,” he added.

Founded in 2016 by Ezhilarasan Natarajan, Sabapathy Arumugam, Krishnakumar Narayanan, and Thiruvalluvar NB, CoreStack enables enterprises to continuously and autonomously keep their cloud infrastructure compliant with industry standards and regulations while providing a significant boost in IT operational efficiencies.

The company, which caters to the clients in the US, Europe and India, said it made key executive appointments, earning significant market traction with enterprises adopting CoreStack for large scale cloud implementation.

“CoreStack’s offering is well-timed with the rapidly increasing demand for enterprise cloud governance,” said Puskoor, Managing Director of Naya Ventures. “We believe enterprises will continue to ensure that their increasing investment in multiple clouds is protected with strong governance. The company has made impressive strides in the marketplace.”

Naya Ventures is the US and India-based venture capital firm investing in early stage B2B companies. Naya has invested in over 20 companies and has generated five exits to date, and manage assets in excess of $1 billion.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.