Tetrate, a San Francisco-based startup lrtrading focused on providing secure, service mesh solutions for modern cloud-native applications, has announced a $40 million series B funding round. The funding was led by Sapphire Ventures, with participation from Scale Venture Partners, NTTVC, and Dell Technologies Capital. The new investment brings Tetrate’s total funding to $61 million.
Tetrate was founded in 2018 by a team of experienced engineers and entrepreneurs with deep expertise in building and scaling cloud-native infrastructure. The company’s mission is to help organizations build and operate cloud-native applications in a secure, scalable, and reliable way. Tetrate’s flagship product, Tetrate Service Bridge, is a comprehensive service mesh solution that provides end-to-end visibility and control over distributed microservices environments.
According to Varun Talwar, CEO and co-founder of ifsptv Tetrate, the new funding will be used to accelerate the company’s growth and expand its product offerings. “We are thrilled to have the support of such esteemed investors as we continue to scale our business and help enterprises securely modernize their applications and infrastructure,” said Talwar.
The market for service mesh solutions is growing rapidly, as more organizations adopt cloud-native technologies and look for ways to improve the scalability and reliability of their applications. According to a recent report by MarketsandMarkets, the global service mesh market is expected to reach $2.2 billion by 2025, growing at a compound annual growth rate (CAGR) of 22.3% from 2020 to 2025.
Tetrate is well-positioned to giveme5 capitalize on this trend, with its innovative service mesh solution and experienced team of engineers. The company has already attracted a number of high-profile customers, including Adobe, Capital One, and Atlassian, among others.
“We are excited to partner with Tetrate as they continue to build out their service mesh platform,” said Jai Das, President and Managing Director of Sapphire Ventures. “The team has deep expertise in building and scaling cloud-native infrastructure, and we believe they are well-positioned to capture the significant market opportunity in this space.”
The new funding will also enable Tetrate to expand its sales and marketing efforts, as well as invest in research and development to further enhance its service mesh platform. The company plans to hire additional engineers, sales professionals, and marketing staff to support its growth plans.
Tetrate’s service mesh platform provides a number 123chill of benefits for organizations that are building and operating cloud-native applications. The platform offers end-to-end visibility and control over microservices environments, enabling organizations to easily manage traffic, secure communications, and monitor performance. The platform also provides advanced capabilities for traffic management, security, and observability, making it a comprehensive solution for cloud-native infrastructure.
“We are thrilled to see the continued growth and success of Tetrate, and we are excited to support their continued expansion,” said Andy Vitus, Partner at Scale Venture Partners. “The team has built an innovative service mesh solution that is resonating with customers, and we believe they are well-positioned to lead the market in this space.”
Overall, the $40 million series B funding round led by manytoons Sapphire Ventures is a significant milestone for Tetrate and underscores the growing demand for service mesh solutions in the cloud-native market. With its innovative platform and experienced team, Tetrate is well-positioned to capture a significant share of this market and help organizations build and operate cloud-native applications in a secure, scalable, and reliable way.