Tetrate, a company that provides cloud-native lrtrading networking solutions, recently announced that it has secured $40 million in a Series B funding round led by Sapphire Ventures. The funding round also saw participation from existing investors, including Dell Technologies Capital, Intel Capital, and 8VC.
Tetrate was founded in 2018 by Varun Talwar and Jeyappragash Jeyakeerthi, both of whom have extensive experience in the field of networking and cloud computing. The company’s aim is to simplify the complexity of cloud-native applications by providing a secure and unified network infrastructure that can span across different environments, including on-premises, cloud, and hybrid.
Tetrate’s flagship product, Istio, is an ifsptv open-source service mesh that provides a uniform way to connect, secure, and manage microservices. Istio is built on top of Kubernetes, an open-source container orchestration platform, and provides a layer of abstraction that allows developers to focus on building and deploying their applications without worrying about the underlying infrastructure.
Tetrate’s solution has gained significant traction among enterprise customers who are adopting cloud-native technologies. The company’s customers include large enterprises in the financial services, healthcare, and telecommunications industries. Tetrate’s solution has been recognized by industry analysts, including Gartner, who named Tetrate a Cool Vendor in Cloud Computing in 2020.
The Series B funding round is a giveme5 testament to Tetrate’s success in the cloud-native networking space. The funding will be used to expand Tetrate’s engineering and go-to-market teams and to accelerate the development of its products.
According to Varun Talwar, Tetrate’s CEO, the company’s mission is to “make it easy for enterprises to embrace cloud-native technologies.” With the Series B funding, the company is well-positioned to achieve this mission.
Sapphire Ventures, the lead investor in the funding round, is a Silicon Valley-based venture capital firm that has invested in several successful startups, including MuleSoft, Alteryx, and DocuSign. Sapphire Ventures’ investment in Tetrate is a significant endorsement of the company’s potential.
In a press release announcing the 123chill funding round, Sapphire Ventures’ President and Partner, Jai Das, said, “Tetrate is well-positioned to help enterprises adopt cloud-native technologies by simplifying the complexity of application networking. We are excited to partner with the Tetrate team as they continue to build their business and deliver innovative solutions to their customers.”
Tetrate’s success in the cloud-native networking space is a testament to the growing importance of cloud-native technologies in the enterprise market. Cloud-native technologies enable organizations to develop, deploy, and manage applications in a more agile and cost-effective manner.
As more enterprises embrace cloud-native technologies, there is a growing demand for solutions that can simplify the complexity of these technologies. Tetrate’s solution addresses this demand by providing a secure and unified network infrastructure that can span across different environments.
In conclusion, Tetrate’s $40 million Series B funding manytoons round led by Sapphire Ventures is a significant endorsement of the company’s potential in the cloud-native networking space. The funding will enable the company to expand its engineering and go-to-market teams and accelerate the development of its products. Tetrate’s success is a testament to the growing importance of cloud-native technologies in the enterprise market and the demand for solutions that can simplify the complexity of these technologies.