Cloud governance software startup Corestack lands $30M

The CoreStack team. (CoreStack Photo)

The news: Seattle-area startup CoreStack raised a $30 million Series B round led by Avatar Growth Capital.

The gist: CoreStack sells “cloud governance” software, helping companies manage the cost, compliance, consumption, and other aspects of their cloud infrastructure. CoreStack is a co-sell partner with Amazon AWS, Microsoft Azure, and Google Cloud.

The metrics: The startup has more than 100 enterprise customers across industries such as financial services, healthcare, retail, and more. It is governing more than $1 billion in combined cloud consumption.

The leaders: CoreStack CEO Ezhilarasan Natarajan co-founded CoreStack in 2016 after stints at Capgemini Group, Mindtree, and Texas Instruments. Other co-founders include Krishnakumar NarayananSabapathy Arumugam; and Thiruvalluvar NB.

The backers: Iron Pillar and other angels participated in the round. Previous backers include Dallas Venture Capital, former Microsoft CIO Jim Dubois, and former Wipro CEO Abidali Neemuchwala. Total funding to date is $45 million.