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Cloudtamer.io, a startup in Fulton, Maryland that is developing a cloud management platform, announced today that it raised $ 9.5 million in Series A financing led by Blue Heron Capital and TDF Ventures, with the participation of Blu Venture Investors , Early Light Ventures and Gaingels. CEO Brian Price says the capital will be used to expand Cloudtamer’s sales, marketing and engineering business to stimulate growth and bring improved management opportunities to the market.
With the rapid application of cloud technologies over the last year, the need for cloud management solutions has grown accordingly. Gartner predicts global spending on public clouds will reach $ 332.3 billion by 2021, and 57% of companies told CloudCheckr in a recent poll that more than half of their infrastructure is in the cloud. However, many organizations are experiencing significant implementation challenges, including slow time to value, financial uncertainty, and compliance risk in the cloud. A Statista survey identified cybersecurity and lack of expertise as other major barriers to adoption.
Cloudtamer was founded in 2018 and offers a collection of governance services distributed directly within Microsoft Azure, Google Cloud and Amazon Web Services (AWS) accounts. Customers host the entire platform in their clouds and keep credentials and data private. In AWS, Cloudtamer sends e.g. Reports from an AWS management account to a Simple Storage Service (S3) billing drawer, which it can access through an identity and access management service role.
“Cloudtamer was founded as a spinout from Stratus Solutions. “I started my career working for a number of defense contracting organizations, and I was first exposed to the cloud by Booz Allen Hamilton, while the cloud was still in its infancy,” Price told VentureBeat via email. “I left Booz Allen Hamilton and started working at Stratus, where it became clear that cloud management and governance were a huge barrier to successful cloud operations for organizations. In 2018, my co-founder Joseph Spurrier and I founded Cloudtamer and started with eight employees. Today, Cloudtamer combines cloud governance and cloud management to ensure users get the full value of the cloud. ”
Security and compliance are often cited as the biggest challenges for companies when moving older systems to the cloud. In a 2021 lemongrass poll, executives reported that cloud migrations can cost between $ 100,000 and $ 250,000 and rarely come under budget, with nearly half of the migrations taking seven months or more to complete.
Cloudtamer aims to solve this challenge by calculating costs in “almost real time” as opposed to every 24 hours, just like some cloud providers. Actions performed in Cloudtamer trigger a request to the appropriate service and, if applicable, perform actions in a cloud environment. The platform provides access to cloud consoles within Cloudtamer, allowing users to move between Cloudtamer’s interface and other consoles for flexibility.
“Moving to and managing cloud environments is a step that organizations in both federal and commercial markets are focusing on right now, and they need a solution that enables them to make better decisions and achieve granular control,” Price said. .
Cloudtamer’s backend database and webfrontend app use AWS CloudFormation templates or Azure Resource Manager templates (depending on the cloud provider), allowing for quick setup. Once installed, Cloudtamer runs on a load-balanced array of instances with an AWS Aurora MySQL database or Azure Database for MySQL.
“We have witnessed many organizations struggling with cloud adoption and believe that Cloudtamer is best positioned to help them simplify their operations,” Blue Heron Capital co-founder and CEO Tom Benedetti said in a statement. “Unlike other cloud management solutions on the market, the Cloudtamer.ios platform brings data spread across cloud providers to a primary location, allowing organizations to have a centralized view of their cloud usage.”
Cloudtamer competes in a multicloud management market that is predicted to be as much as $ 19.28 billion by 2028. A rival, Cyral, uses stateless eavesdropping technology to deliver enterprise data management across platforms like Amazon S3, Snowflake, Kafka, MongoDB and Oracle . Another, Stacklet, incorporates hundreds of policies to optimize data management across different clouds, accounts, and regions.
But 46 employees Cloudtamer has attracted more than 40 high-profile customers to date, including U.S. government entities like NASA, Centers for Disease Control and Prevention and the National Institutes of Health along with companies like Indeed and Verizon. For NASA, Cloudtamer helped the agency’s field centers manage geoscientific data from new satellite launches, while helping to onboard cloud accounts with different budgets and spending plans, security policies and user access limits.
Cloudtamer’s revenue has grown by double digits every year since 2018, according to Price.
“Initiatives for digital transformation have accelerated rapidly over the last two years. I can not say if it is due to the pandemic. However, it has spurred the market for cloud management and governance and opened many doors for us in the federal space – as well as the corporate space, “Price said. “We see a great need in the healthcare industry, and that is one of the reasons why we chose to work with Blue Heron Capital as an investor. Their expertise in healthcare and software-as-a-service will help us target this market and provide solutions to support their critical infrastructure. ”
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