Cloud Management Platform CloudCheckr Raises $50 Million

Cloud management platform CloudCheckr announced on Monday that it has raised $50 million in Series A financing from Level Equity to support its platform growth.

CloudCheckr’s platform provides support for AWS and Azure cloud cost management, security and compliance, inventory and utilization and continuous monitoring.

Founded in 2011, CloudCheckr says the funding builds on an “exceptional year” for the company, where it has seen key executive appointments, and a growing customer base. CloudCheckr currently provides support to over 40 percent of all AWS Premier Consulting Partners and over 150 AWS and Azure authorized resellers and MSPs.

"Cloud management is a highly complex but increasingly mainstream issue – especially for the forward-looking enterprises who are leading the public cloud revolution," Aaron Newman, CloudCheckr CEO and co-founder said. “We have had an astonishing amount of interest in our business as it has continued to scale quickly and profitably and were very deliberate in our timing and choice to bring on an institutional investment partner that would help accelerate our lead in this exciting marketplace. Level’s investment is validation of the pressing need to get visibility and control of exploding cloud environments and we’re excited to keep building, innovating and giving organizations the tools they need to go fast at scale.”

According to Crunchbase, the latest funding round brings its total funding since April 2013 to $52.4 million.

"We're thrilled to be partnered with Aaron and the whole CloudCheckr team," Benjamin Levin, founder and partner at Level Equity said in a statement. "It is rare to see a profitable, bootstrapped business with this scale and growth trajectory in a market of this size where most of the competitors have raised gobs of venture capital. We were attracted to CloudCheckr’s track record of rapid, profitable, and bootstrapped growth as well as deep technology leadership and the immense opportunity that exists to deliver sophisticated, unified cloud management for complex enterprises across the globe."

Last year cloud cost monitoring platform Cloudability closed a $24 million Series B financing round.