Tetrate, a leading provider of cloud-native lrtrading networking and security solutions, has announced that it has raised $40 million in a Series C funding round led by Sapphire Ventures. The latest funding will enable Tetrate to expand its product offerings and customer base, accelerate its growth, and invest in its talent and technology.
Tetrate was founded in 2018 with a mission to simplify the deployment and management of cloud-native applications for enterprises. Its flagship product, Tetrate Service Bridge (TSB), provides a unified platform for managing and securing cloud-native workloads across multiple environments, including Kubernetes, Istio, and Envoy.
The company has gained significant ifsptv traction in the market, with customers across a range of industries, including finance, healthcare, and e-commerce. Its platform is designed to help enterprises overcome the challenges of managing complex cloud-native architectures, such as security, observability, and traffic management.
The Series C funding round was led by Sapphire Ventures, a leading venture capital firm that invests in innovative technology companies. Sapphire Ventures has a strong track record of investing in companies that are disrupting traditional industries and creating new markets.
“Cloud-native technologies are transforming the way enterprises build and manage their applications, and Tetrate is at the forefront of this transformation,” said Jai Das, President and Managing Director at Sapphire Ventures. “We are excited to partner with Tetrate as they continue to innovate and drive the adoption of cloud-native technologies.”
Other investors in the round giveme5 included Scale Venture Partners, Dell Technologies Capital, and Intel Capital. The funding brings Tetrate’s total funding to date to $60 million.
“We are thrilled to have the support of Sapphire Ventures and our other investors as we continue to scale our business,” said Varun Talwar, CEO of Tetrate. “This funding will enable us to expand our platform and offer even more value to our customers, while also investing in our talent and technology to drive our growth.”
Tetrate’s platform is designed to help enterprises overcome the challenges of managing complex cloud-native architectures, such as security, observability, and traffic management. Its platform offers a range of features that simplify the deployment and management of cloud-native applications, including:
- Multi-cloud support: Tetrate’s platform supports multiple cloud environments, including AWS, Azure, and Google Cloud.
- Service mesh management: The platform offers a comprehensive service mesh management solution, which enables enterprises to manage the communication between their microservices.
- Security and compliance: Tetrate’s platform offers a range of security and compliance features, including identity and access management, network security, and compliance automation.
- Observability: The platform provides real-time visibility into the performance of cloud-native applications, including metrics, logs, and traces.
Tetrate’s platform has been recognized by 123chill industry analysts and publications, including Gartner and The New Stack. The company was named a Cool Vendor in Cloud Computing by Gartner in 2020 and was included in The New Stack’s list of Top 50 Cloud-Native Companies in 2021.
The cloud-native market is growing rapidly, as more enterprises adopt cloud-native technologies to improve their agility, scalability, and resilience. According to a report by MarketsandMarkets, the global cloud-native security market is expected to grow from $2.2 billion in 2020 to $4.8 billion by 2025, at a CAGR of 16.9% during the forecast period.
With its innovative platform and strong manytoons customer base, Tetrate is well positioned to capitalize on this market opportunity and drive the adoption of cloud-native technologies in enterprises around the world.