SANTA CLARA — Spectro Cloud, a platform provider of a modern Kubernetes (K8s) management platform, has closed a $40 million Series B funding round, led by Stripes, a leading investor in software and consumer products.
Other investors participating in the round included Sierra Ventures, Boldstart Ventures, WestWave Capital, T-Mobile Ventures and Alter Venture Partners, all of which also participated in the $20 million Series A funding round that Spectro Cloud closed in July. Additionally, TSG has invested in this Series B round.
“This investment validates Spectro Cloud’s vision and accomplishments toward making Kubernetes more accessible and manageable so organizations can speed up adoption in any environment,” said Tenry Fu, Spectro Cloud co-founder and CEO. “Our approach with Palette is simple: to remove the common pitfalls and trade-offs that organizations face when adopting Kubernetes. Spectro Cloud’s recent Palette Edge and Palette Bare Metal announcements demonstrate our ability to extend a unique approach to every environment under management — even the most challenging ones. The fresh capital will enable us to develop more features, and expand our go-to-market plan internationally to address customer demand.”
Spectro Cloud’s next-generation Palette Kubernetes management platform delivers full-stack lifecycle management. That includes any combination of new and existing Kubernetes clusters, be they virtualized or bare metal data centers, public clouds or edge locations.
Spectro Cloud announced its Real Metal architecture in October, and its extension to add support for edge locations on March 15. The company’s Palette Edge, Palette Bare Metal, Palette Cloud, Palette Standard and Palette Premium products allow organizations to deploy and manage any type of Kubernetes cluster across any location.
“We are extremely pleased to lead Spectro Cloud’s Series B financing,” said Stripes founder and Partner Ken Fox. “Stripes also led Spectro Cloud’s Series A financing last summer. Since then, the company has shown tremendous traction, and quickly built brand awareness, leading to large, blue-chip customers. This is a testament to Stripes’ focus on investing in amazing products. Spectro Cloud has executed well in their expansion to include a global direct and partner sales organization, as well as recent product innovations such as the extension of its Palette platform to support K8s on bare metal and edge locations.”
Spectro Cloud has raised $67.5 million to date. That total includes the close of a $7.5 million seed round in 2019 in addition to the $20 million Series A round previously mentioned. With the new funding, Spectro Cloud plans to hire 50 new positions by the end of the year, including salespeople, marketing personnel, sales engineers, solutions architects, engineers and customer support — making the company’s current 24/7 customer support even more robust. Spectro Cloud’s headquarters is in San Jose. It also boasts a presence in Germany, India, the Netherlands and the United Kingdom.
