Signal Peak Ventures And Kickstart Seed Fund Invest In RackWare $10M Series B Round
“RackWare continues to push the boundaries of what is possible in IT automation and cloud intelligence.”
Utah is a state that loves cloud computing. I say this based on two things:
Utah recently placed six companies — Qualtrics, Domo, Pluralsight, InsideSales, Health Catalyst, Workfront — in the Cloud 100, a list recognizing the top 100 private cloud computing companies in the world.
As more and more cloud computing companies come out of the woodwork, Utah VCs have continued to invest in them and if today’s news is any indication, this mindset isn’t changing any time soon.
RackWare (with offices in SLC and the Bay Area) has announced the closing of a $10 million Series B that features two Utah-based VC firms — led by Signal Peak Ventures, participation from Kickstart Seed Fund — with added contribution from Osage Venture Partners. RackWare deals with providing enterprise-level cloud computing management, so how could some Utah VCs not be involved?
“RackWare continues to push the boundaries of what is possible in IT automation and cloud intelligence,” Ron Heinz, Signal Peak Ventures Managing Partner, said in a statement. “Its flexibility, ease of use and fast implementation are the best in the industry, and its products have been vetted by a long list of brand-name customers. With unparalleled distribution channels, market access and superior technology, we’re excited to see where RackWare will go next.”
RackWare has previously raised a total of $5.3 million, including a $3 million Series A round that was led by Kickstart and placed managing director Gavin Christensen on RackWare’s board of directors. Osage has also been involved in each financing round, while the Series B investment marks Signal Peak’s first foray into RackWare’s world.
As for the added $10 million, RackWare and CEO Sash Sunkara are now positioned to enhance their offerings and expand their reach in the world of cloud computing.
“Our vision is to enable global enterprises to achieve true data center cloud adoption with use cases such as disaster recovery, backup, scaling and migration,” said Sunkara. “Bringing on Signal Peak Ventures and Ron Heinz provides RackWare with an experienced investor and operator to bolster our team. By investing in the right people and technology, RackWare is poised to significantly augment our already strong market momentum.”