ALEXANDRIA, Va.–(BUSINESS WIRE)–greymatter.io Inc., an enterprise microservices platform provider, today announced the close of a $7.1 million Series A round. Led by Elsewhere Partners, the funding will fuel greymatter.io’s global growth as demand intensifies for its comprehensive microservices platform, which includes service mesh and API management for enterprise-scale IT environments.
“Organizations are quickly realizing that they must future-proof their IT infrastructures. The distribution of software, APIs, data, and users across hybrid, multi-cloud, and on-premise systems has created dramatically more complex networks that large organizations (both public and private) are struggling to control, secure and monitor,” said Chris Pacitti, founder and partner of Elsewhere Partners. “We have been watching greymatter.io execute on their vision for an enterprise microservices platform for more than three years. They have proven the strength and scalability of their platform to effectively manage the explosion of configuration sprawl, security, governance, and risk needs.”
In enterprise hybrid and multi-cloud operations, it is more important than ever for IT leaders to control complexity, trust nothing, and see everything. The global service mesh market continues to surge with some analysts predicting it will top $2.3 billion by 2028 to support the complexities introduced by service-based architectures, and greymatter.io has been a leading innovator in the space since 2015. Helping large organizations cut their operational costs by upwards of 30 percent, greymatter.io allows DevSecOps and NetSecOps teams to easily manage increasing complexity, secure application networking with zero-trust and see everything happening across their IT environment. Recognized as an industry outperformer by GigaOm, the Grey Matter platform offers cloud- and platform-agnostic solutions to uncover and relieve the top issues plaguing enterprises as their application networking, API security and IT operations evolve – from misconfigurations, unvetted configurations and unpatched vulnerabilities, to data leaks, failed audits and more.
“greymatter.io has become a proven industry force thanks to our talented team and steadfast commitment to ease our customers’ top infrastructure burdens,” said greymatter.io CEO Chris Holmes. “Working with an investment partner as dedicated as we are to customer-driven, product-led company growth, there are no limits to what the coming months/years hold. We will continue to provide the most comprehensive modern microservices platform based on a service mesh purpose built to help large public organizations and private enterprises overcome complexity sprawl and tackle all governance, analytic and zero-trust security needs regardless of the number of clouds, on-premise systems, applications or endpoints involved.”
After years successfully serving the complex needs of massive, globally distributed government and defense organizations, greymatter.io will use the funding to expand the reach of its proven microservices platform in both the public and private sector by rapidly building out its team. In addition, greymatter.io will accelerate its pipeline of platform enhancements, add support for key open source community projects, and cultivate new partnerships in advanced areas of zero-trust security and data mesh to support its continued market leadership.
Timed with the investment, seasoned enterprise B2B software industry executives Mike Kushin and Michele Perry (an Elsewhere Partners operating advisor) will join the Board to help support the company’s market expansion and recruiting efforts.
About greymatter.io Inc.
A venture-backed microservices platform provider, greymatter.io is driving the next era of intelligent service mesh and API management to solve complex challenges flowing from enterprises’ DevSecOps and NetSecOps pipelines through production operations. Led by a team of experts, the company builds infrastructure intelligence solutions to help its customers better manage, secure, and operate enterprise software. The platform has a rapidly growing user base that includes some of the largest, most security-conscious, globally decentralized organizations in the world. Learn more at greymatter.io.
About Elsewhere Partners
Elsewhere Partners is a growth-stage venture capital firm that invests in Elsewhere Outliers – business software companies that are located outside of traditional venture capital hubs and have achieved substantial customer traction and revenue growth without significant outside funding. Elsewhere Partners combines transitional capital with transformational expertise to help companies achieve exit readiness on their own terms. To learn more, visit www.elsewhere.partners.
Source: www.darkreading.com