Originally published on Business Wire on Monday, March 20, 2017.
ROCHESTER, N.Y.–(BUSINESS WIRE)–CloudCheckr, the leading cloud management platform, announced today that it has raised $50 million in institutional funding from Level Equity. The funding round will augment an already profitable business that has tripled in each of the last three years. CloudCheckr will use the funds to bolster its market-leading platform for modern enterprises, government agencies and managed service providers who demand a comprehensive and scalable multi-cloud management platform that satisfies cost, security, utilization and compliance concerns.
“Cloud management is a highly complex but increasingly mainstream issue – especially for the forward-looking enterprises who are leading the public cloud revolution,” said Aaron Newman, CEO and Co-Founder at CloudCheckr. “We have had an astonishing amount of interest in our business as it has continued to scale quickly and profitably and were very deliberate in our timing and choice to bring on an institutional investment partner that would help accelerate our lead in this exciting marketplace. Level’s investment is validation of the pressing need to get visibility and control of exploding cloud environments and we’re excited to keep building, innovating and giving organizations the tools they need to go fast at scale.”
“We’re thrilled to be partnered with Aaron and the whole CloudCheckr team,” said Benjamin Levin, Founder and Partner at Level Equity. “It is rare to see a profitable, bootstrapped business with this scale and growth trajectory in a market of this size where most of the competitors have raised gobs of venture capital. We were attracted to CloudCheckr’s track record of rapid, profitable, and bootstrapped growth as well as deep technology leadership and the immense opportunity that exists to deliver sophisticated, unified cloud management for complex enterprises across the globe.”
The Series A financing builds on an exceptional year for CloudCheckr which saw a rapidly growing roster of customers, key executive appointments, and market momentum in the white-hot areas of cost management, cybersecurity and cloud automation. CloudCheckr currently services over 150 AWS and Azure authorized resellers and provides support to nearly 40% of all AWS Premier Consulting Partners. In the last year, CloudCheckr saw its direct client roster grow to manage over $1B+ in cloud spend for leading enterprises such as Nasdaq, Siemens, and Regeneron, was honored as a Rochester Top Workplace by the D&C, and added outstanding industry veterans and experts to the company’s executive ranks.
Government organizations and Global 2000 enterprises trust CloudCheckr to unify their native AWS data to deliver the most robust cloud management platform in today’s marketplace. CloudCheckr helps customers save on average of 30% on their monthly AWS spend. CloudCheckr helps organizations be more efficient and secure in the cloud while saving money through cost management, security & compliance and cloud automation. By unifying DevOps, Security and Finance teams around the cloud, customers ensure they keep their cloud in check. Get started at cloudcheckr.com/getstarted.
About Level Equity
Based in New York, NY, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm manages over $850 million across a series of long term committed investment partnerships. Principals at Level Equity have invested in 61 technology businesses over the past 20 years. For more information about Level Equity, visit levelequity.com.
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