CoreStack Announces Record Growth in 2020 and Strong Momentum with Cloud Governance Adoption
Organizations across Financial Services, Healthcare, Banking, Insurance, and other industries embrace CoreStack’s Cloud Governance and Compliance Solutions to enhance cloud operational efficiencies, assure cloud compliance, and optimize cloud costs.
January 19, 2021, BELLEVUE, WA. – CoreStack, a global multi-cloud governance provider that empowers enterprises to achieve continuous and autonomous cloud governance at scale, today announced 2020 as a year of record business growth in revenues, new customers, and industry recognitions.
CoreStack witnessed more than 150% Year-on-Year growth in revenues and is now serving more than 100 organizations globally from industries including Financial Services, Healthcare, Banking, Insurance, Education and Manufacturing. CoreStack attributes this outstanding growth to its relentless focus on customer-value innovation. Today, CoreStack boasts of a Net Promoter Score (NPS) of more than 70.
Customers leveraging its multi-cloud governance solution reap transformational benefits such as enhanced operational efficiencies, comprehensive cloud compliance with industry standards and regulations, and optimized cloud costs.
“CoreStack helped us rapidly achieve future-ready robust cloud governance. We were able to realize cost savings of $1.5 million amounting to a reduction in cloud costs by over 40% within 2 months of implementing CoreStack,” said Shailu Tipparaju, Chief Technology Officer of Examity. “This is an impressive value from any new implementation. Thanks to this significant cost savings, we were able to retain jobs and scale opportunities globally, especially during this vulnerable time of the pandemic”, he added.
In 2020, CoreStack raised Series A financing of $8.5 million led by Dallas Venture Capital (DVC) and Iron Pillar. Buoyed by the funding and rapid customer growth, CoreStack expanded its R&D, customer service, sales, and marketing teams globally in US and India. CoreStack earlier announced the joining of former CEO of Wipro, Abidali Neemuchwala, as Strategic Advisor.
CoreStack earned several industry-leading awards and recognitions in 2020:
- Recognized as an IDC Innovator in Cloud Management Solutions
- Awarded NASSCOM Emerge50 – League of 10 in Enterprise Software
- Mentioned in the Gartner Magic Quadrant for Cloud Management Platforms 2020
- Won TiE50 2020 for the second time in a row
“Organizations globally have fast-tracked their digital transformation in 2020 and that trend is expected to continue in 2021. While Cloud adoption is a key component in this transformation, the challenges around cloud operations, security, compliance, and cost, can be overcome only with an effective governance strategy,” said Ezhilarasan Natarajan, CEO of CoreStack. “CoreStack has delivered excellent value to multiple companies in 2020, and we look forward to enabling several more companies unleash the power of cloud this year. We’re innovating at a rapid pace and are very excited to continue to deliver transformational cloud governance for our customers,” he added.
About CoreStack
CoreStack, an AI-powered multi-cloud governance solution, empowers enterprises to rapidly achieve Continuous and Autonomous Cloud Governance at Scale. CoreStack enables enterprises to realize outcomes such as a 50% increase in operational efficiencies, 40% reduction in costs, and 100% compliance with standards such as ISO, FedRAMP, NIST, HIPAA, PCI-DSS, AWS CIS & Well-Architected Framework (WAF). With a unique Cloud-as-Code approach that uses deep AI/ML, declarative definitions, connector-less model, and a patented cloud service-chaining technology, CoreStack continually innovates to harness the real power of the cloud. CoreStack is a Microsoft Azure Gold & Co-Sell Partner and Amazon AWS Advanced Technology Partner. Learn more at www.corestack.io
Contacts
Bala Vishwanath
Chief Marketing Officer, CoreStack
bala@corestack.io
