SaltStack Completes $15.5M Financing
SALT LAKE CITY -- SaltStack, the intelligent automation platform for a software-defined world, today announced a $15.5 million series A financing round led by Mercato Partners, a leading growth capital firm. This new round is additive to previous investments from Peak Capital, Epic Ventures and Deep Fork Capital and brings total SaltStack funding to $28 million.
"The SaltStack team has built a successful software company that is changing the way IT organizations manage and secure digital resources from the data center to the very edges of the network," said Ryan Sanders, Mercato Partners director. "IT organizations use SaltStack intelligent automation to detect and counteract critical threats such as the Spectre and Meltdown vulnerabilities. This is just one way SaltStack can help CIOs and IT leaders reduce risk, enable digital business and show ROI in months, not years. We look forward to supporting SaltStack growth through our investment."
In 2017 SaltStack launched SaltStack Enterprise as the industry's first IT management solution built to scale and replicate human intelligence for more efficient and autonomic infrastructure. SaltStack Enterprise is built on the Salt open source software project popular with enterprise DevOps and IT operations professionals around the world. SaltStack is an event-driven automation platform for remote task execution, configuration management, security compliance and intelligent orchestration of hybrid cloud, software-defined networking, IoT and heterogeneous application environments at scale.
"SaltStack is poised to take advantage of a significant market opportunity and our partnership with Mercato Partners will help accelerate our success," said Marc Chenn, SaltStack CEO and co-founder. "In a software-defined world SaltStack automates the management of everything from mission-critical data center infrastructure at scale to distributed networks of Internet of things (IoT) devices. Complexity compounded by increasingly sophisticated security threats has created substantial demand for SaltStack intelligent automation to manage and secure the modern infrastructure of digital business."
SaltStack will use this investment to notably increase its product and engineering output and to extend sales and marketing initiatives to accelerate enterprise IT adoption of SaltStack intelligent, event-driven automation. SaltStack is used by enterprise IT and DevOps organizations at companies like Tyson Foods, Adobe, Intuit, Dun & Bradstreet, Lyft, LinkedIn, KPMG, Cloudflare, Clemson University, TD Bank, Sterling Talent Solutions and SAP.
Ryan Sanders of Mercato Partners will join the SaltStack board of directors. Mercato Partners has a successful track record of investing in growth companies, including Fusion-IO, Ephesoft, ObservePoint, Control4, CradlePoint, Stance and Domo.