September 14, 2018

Cloud companies Sysdig, Datrium close Series D funding

The investments seek to simplify cloud solutions for the customers of both companies in the midst of growing demand.

Cloud companies

Cloud companies Datrium and Sysdig have raised USD 60 million and USD 68.5 million respectively in the Series D round of funding. With these investments, Datrium seeks to simplify compute and data management across on-prem and cloud, whereas Sysdig seeks to enable enterprises to secure and monitor containers and cloud-native applications.

According to Sysdig, enterprises are hitting bottlenecks when it comes to cloud-native security and monitoring products. They say that these enterprises need feature-rich products that operate smoothly on the cloud as well as on-premise.

In a bid to bridge this gap, Sysdig raised a funding of USD 68.5 million which will be used to build and develop new security and monitoring products. They say that they will also be taking the industry shift of building container-based applications into account while doing so.

Sysdig say that the Series D round of funding was led by Insight Venture Partners, with participation from previous investors like Bain Capital Ventures and Accel. Speaking about the investment, Suresh Vasudevan, CEO at Sysdig, commented:

Enterprises are adopting cloud-native technology for its speed of development, multi-cloud scaling capabilities, and lower total cost of ownership. But, they are hitting roadblocks with old-school security and monitoring products. To be successful, these organizations need new solutions that are cloud-native.

Parellely, Datrium have also raised USD 60 million to enable enterprises to manage data on the cloud as well as on premises. Their Series D funding was led by Samsung Catalyst Fund, with participation from Icon Ventures, and existing investors NEA and Lightspeed Venture Partners.

Datrium are of the belief that data is playing a critical role in not only shaping the decision making of business owners but also the cloud economy. They also say that enterprises have to rely on complicated backup and recovery solutions that put pressure on the time-value of money.

Since this complicates the dependency on data solutions, Datrium raised a Series D round of funding to focus their efforts on simplifying data management solutions for the hybrid cloud companies. Speaking about the investment, Tim Page, CEO of Datrium, commented:

Enterprises globally have the same problems in simplifying compute and data management across on-prem and cloud.

Where SANs don’t even have a path to cloud, traditional HCI has too many tradeoffs for core datacenters – backup requires separate purchasing and administration, and cloud DR automation is seldom guaranteed. Larger enterprises are realizing that Datrium software offers them a simpler path.

It looks like major investors have taken a fancy to cloud-enablers, especially after cloud companies like Lacework, CloudCherry and Packet raised funds to boost their cloud portfolio. It will be interesting to see the turn of events in this market and witness which investors lead the race for the cloud.