CloudCheckr 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, the company said.
"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.”
The company was deliberate in its timing and choice to “bring on an institutional investment partner that would help accelerate our lead in this exciting marketplace,” Newman said.
CloudCheckr is a software platform for Amazon Web Services that specializes in helping businesses automate the cost, management and security of their cloud environments. CloudCheckr employs some 85 people, including nearly 60 in Rochester.
“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,” Newman said.
The funding will help strengthen CloudCheckr’s platform for modern enterprises, government agencies and managed service providers that use a comprehensive and scalable multi-cloud management platform.
"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."
Follow Kerry Feltner on Twitter: @KerryFeltner
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