- The funds are earmarked for continuing the support and growth of the Cloud Custodian community, advancing the Stacklet platform, and hiring in engineering, marketing, sales and customer success
- The company has developed a real-time cloud asset database, added hundreds of policies to its Policy Packs and signed multiple design partners for its cloud governance platform
Stacklet, developer of the cloud governance platform based on Cloud Custodian, has announced it has closed $18 million in Series A funding. The investment was led by Addition with participation from Foundation Capital and new individual investor Liam Randall. The funds are earmarked for continuing the support and growth of the Cloud Custodian community, advancing the Stacklet platform, and hiring in engineering, marketing, sales and customer success.
Travis Stanfield, co-founder and CEO, Stacklet said, ““Organizations are moving to the cloud faster than we expected due to COVID-19 which has resulted in cloud governance and costs needing to be better addressed and managed. This has created an exciting opportunity for Stacklet and the Cloud Custodian community. Stacklet is committed to ensuring that Cloud Custodian provides the world’s best cloud governance platform and to continuing its free distribution. We look forward to working with industry partners, and in particular the major cloud providers, to ensure its widespread adoption.”
Real-time cloud asset database
Stacklet exited stealth in August 2020. The company has developed a real-time cloud asset database, added hundreds of policies to its Policy Packs and signed multiple design partners for its cloud governance platform.
It said that Cloud Custodian has been downloaded more than 2 million times since August 2020, is part of the CNCF Sandbox, and has almost 300 active contributors including Amazon, Microsoft and Capital One. The company has added Randall to its leadership team as vice president of business development. Along with investing in early-stage companies, Randall is a long-time security executive and, most recently, was vice president of software innovation at Capital One.
Lee Fixel, founder, Addition said, “We made our seed investment in Stacklet because we believed in Travis and Kapil’s vision and saw the great potential of Cloud Custodian. Stacklet has consistently delivered, innovated and hit its milestones. We’re thrilled to build on our initial investment and continue to support the company on its journey.”
Policy as code approach to governing infrastructure
Randall added, “Working in security with innovative software startups over the past 20 years and seeing a number of deployments of new infrastructure has made me incredibly focused on the solidity of new technologies and their security. I joined Stacklet because of the tremendous market opportunity they have to become the de facto standard for cloud governance. I look forward to strengthening this position while developing the necessary partnerships to accelerate the adoption of Cloud Custodian to build a strong community for it within the CNCF.”
Cloud Custodian takes a policy as code approach to governing infrastructure to keep organisations secure and well-managed in the cloud. The company said that it has the broadest coverage of cloud services and remediation capabilities and supports multi-cloud real-time governance using the native serverless capabilities of each cloud provider. The Cloud Custodian community is working to “shift left” the open source core. This introduces preventative control by giving developers the ability to evaluate both application and infrastructure code against their organisation’s governance standards early in the lifecycle