Total amount raised
$162.5 Millions
Latest funding date
11/1/2024
Location
Spectro Cloud has successfully raised $75 million in a Series C funding round, backed by 12 investors including T-Mobile Ventures and Translink Capital. The company offers an enterprise Kubernetes management platform called Palette, designed to simplify and control Kubernetes deployments at any scale.
Keep reading to explore the intricacies of Spectro Cloud's fundraising journey and the investors backing this innovative platform.
What Is Spectro Cloud?
Founded in 2019, Spectro Cloud is based in San Jose, California. The company was established by Gautam Joshi, Saad Malik, and Tenry Fu.
Spectro Cloud offers a Kubernetes management platform called Palette, which simplifies the deployment and management of Kubernetes clusters across various environments, including clouds, data centers, and edge locations.
With a team of 101-250 employees, Spectro Cloud is dedicated to providing enterprise-grade security and governance for Kubernetes deployments.
How Much Funding Has Spectro Cloud Raised?
- Seed Round
- Amount Raised: $7.5M
- Date: March 2020
- Lead Investors: Sierra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their Kubernetes management platform, Palette.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2019
- Lead Investors: WestWave Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and begin initial product development.
- Series A
- Amount Raised: $20M
- Date: July 2021
- Lead Investors: Stripes
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $40M
- Date: March 2022
- Lead Investors: Stripes
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the Palette platform.
- Funding Round
- Amount Raised: $20M
- Date: September 2023
- Lead Investors: Qualcomm Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support market expansion and customer acquisition.
- Series C
- Amount Raised: $75M
- Date: November 2024
- Lead Investors: Goldman Sachs Alternatives
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product innovation, especially in edge computing, and scale new go-to-market partnerships.
Total Amount Raised: $162.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Goldman Sachs Alternatives
- Details: Goldman Sachs Alternatives is a division of Goldman Sachs that focuses on alternative investments, including private equity, real estate, and hedge funds. They have a strong track record of investing in high-growth companies and innovative technologies.
- Investment Focus Areas: High-growth companies, innovative technologies, real estate.
- Notable Investments: Uber, Spotify, WeWork.
- Qualcomm Ventures
- Details: Qualcomm Ventures is the investment arm of Qualcomm Incorporated, a global leader in wireless technology. They invest in companies that are driving innovation in the mobile and wireless ecosystem.
- Investment Focus Areas: Mobile technology, wireless communication, AI.
- Notable Investments: Zoom, Xiaomi, Waze.
- Stripes
- Details: Stripes is a growth equity firm that invests in software and consumer businesses. They focus on partnering with market-leading companies to accelerate their growth.
- Investment Focus Areas: Software, consumer businesses, technology.
- Notable Investments: Monday.com, Snyk, Reformation.
- Sierra Ventures
- Details: Sierra Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology companies. They have a strong focus on enterprise and consumer technology sectors.
- Investment Focus Areas: Enterprise technology, consumer technology, healthcare.
- Notable Investments: Sourcegraph, Treasure Data, Reify Health.
- WestWave Capital
- Details: WestWave Capital is an early-stage venture capital firm that focuses on investing in technology startups. They aim to support companies that are at the forefront of innovation.
- Investment Focus Areas: Technology startups, innovation, early-stage companies.
- Notable Investments: Not publicly disclosed.
What's Next for Spectro Cloud?
With the recent $75 million Series C funding, Spectro Cloud is poised to capitalize on significant opportunities in edge computing and AI-driven cloud-native ecosystems. The company aims to enhance customer experience and scale new partnerships, leveraging its Palette platform to manage complex multi-cluster environments.
Future fundraising seems likely as Spectro Cloud continues its rapid growth, potentially attracting more investors to support further innovation and expansion. However, the company may face challenges in managing the complexity of Kubernetes environments and keeping pace with technological advancements, all while maintaining high customer satisfaction.
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