Dallas Venture Capital participates in $30 Million Series B financing round by CoreStack to support its rapid growth and dominance in cloud governance and compliance
[Dallas/Irving, Texas, 11/23/2021] — Dallas Venture Capital (DVC), a Dallas TX based venture capital firm focused on early and growth stage companies in cloud infrastructure, AI/ML, mobile, XR and other emerging technologies, today announced its follow-on investment in CoreStack’s $30 million Series B financing round. Dallas Venture Capital had earlier led the $8.5 million Series A financing round in March 2020. This brings CoreStack’s total funding to $45 million.
CoreStack is at the cusp of exponential growth and our follow-on investment reaffirms our confidence in CoreStack’s vision and execution, said Dayakar Puskoor, Founder and Managing Director, Dallas Venture Capital. The leadership of CoreStack has been diligent in tapping into the DVC Advantage program and our extensive network of advisors to fuel their revenue growth with strategic partnerships and customer acquisitions, added Puskoor who also sits on the Board of CoreStack as a Director.
DVC is committed to helping portfolio companies, like CoreStack, transform their growth journey by providing strategic guidance across product, domain, strategy, customer success and growth, or financial specific matters. DVC has recently created a position of Chief Business Officer (CBO) to create a sustained impact for our portfolio companies through DVC Advantage Program.
CoreStack has been a perfect partner in leveraging the DVC Advantage program, that is focused on start-up companies’ needs in multiple areas such as product & technology strategy, executive mentorship, corporate governance, business development and talent acquisition. CoreStack has been innovating and growing at a rapid pace with its AI-powered continuous and autonomous cloud governance at scale, while also making strategic headway with expansion into new markets. The Series B financing will further accelerate CoreStack’s dominance in cloud governance and compliance.
About Dallas Venture Capital
Dallas Venture Capital (DVC) is a Dallas/Irving, Texas based venture capital company with a focus on investing in early-stage enterprise B2B software companies and ambitious entrepreneurs looking to partner with investors who have been in their shoes through hands-on support in the areas of product and market development. DVC was founded by Dayakar Puskoor, a pioneering Dallas based venture capitalist with a record of investments in twentyfive companies and seven exits to date. Some examples of DVC’s investments include: Disprz, Lucy.ai, Rollick, plnar, Kore.ai, Altia Systems, HyperVerge, FelixHealthcare.AI, CoreStack, AmplifAI and Viviota. DVC has offices in Dallas, USA & Hyderabad, India.
For more information on DVC, visit www.dallasvc.com
CoreStack, an AI-powered next generation multi-cloud governance solution, empowers enterprises to unleash the power of cloud on their terms by helping them rapidly achieve continuous and autonomous cloud governance at scale. CoreStack enables enterprises to realize outcomes across FinOps, SecOps and CloudOps, such as 40% decrease in cloud costs and 50% increase in operational efficiencies by governing operations, security, cost, access, and resources. CoreStack also assures 100% compliance with standards such as ISO, FedRAMP, NIST, HIPAA, PCI-DSS, AWS CIS & Well-Architected Framework. CoreStack works with many large global customers across multiple industries including Financial Services, Healthcare, Retail, Education, Telecommunications, Technology and Government. To-date, CoreStack has helped enterprises govern over $1 billion in cloud consumption annually. The company is backed by the world’s leading global venture investors and strategic advisors including the ex-CIO of Microsoft and ex-CEO of Wipro. CoreStack is a recent recipient of the 2021 Gold Stevie American Business Awards in Cloud Infrastructure, 2021 Stratus Award as Cloud Disruptor and 2021 Globee Gold Winner as the Most Innovative Company of the Year in IT Cloud/SaaS. In addition, CoreStack won the 2021 Best New Products American Business Award in Cloud Governance as well as Golden Bridge Awards for Cloud Computing/SaaS Innovation and Cloud Security Innovation. Gartner recognized CoreStack in the 2021 Market Guide for Cloud Management Platforms as well in the Cloud Management Platforms Magic Quadrant 2020. IDC recognized CoreStack as the 2020 Innovator in Cloud Management Solutions. The Company is a three-time TiE50 Winner and a Emerge 50 League-10 NASSCOM award recipient in Enterprise Software. CoreStack is a Google Cloud Build Partner, Microsoft Azure Gold & Co-Sell Partner, and Amazon AWS Advanced Technology Competency Partner.
For more information on CoreStack, visit www.corestack.io
Chief Marketing Officer, CoreStack