SOURCE: StackIQ

October 20, 2014 10:00 ET

StackIQ Closes Series B Funding Amidst Explosive Demand for Web-Scale IT Automation From Major Enterprise Customers

Company Appoints Vice President of Marketing to Pursue Next Stage of Growth

SAN DIEGO, CA--(Marketwired - October 20, 2014) - StackIQ, the leader in Web-scale IT automation for the enterprise, today announced it has completed a $6 million Series B round of funding. New participants in the round include Grayhawk Capital, Keshif Ventures, DLA Piper, and OurCrowd. Existing investors Anthem Venture Partners and Avalon Ventures also participated in the round. The additional capital will be used to scale the company's sales, marketing, and overall operations as it meets increasing market demand for its flagship cluster management product.

This financing round follows a record setting year-to-date for customer momentum, product innovation, and value enhancing partnerships. In 2014, StackIQ continued its rapid growth by adding several large Fortune 100 enterprises including one of the world's largest communications & media companies, a major U.S. wireless carrier, major automobile manufacturer, and leading financial services companies to its customer base.

Additionally, the year began with the release of new, enterprise-ready StackIQ Cluster Manager features (see StackIQ Announces Updated Cluster Management Software Suite). These added cluster-wide capabilities for automated configuration, orchestration, and change management have been incorporated through customer feedback coupled by StackIQ's rich history in scaling distributed systems.

StackIQ Cluster Manager is unsurpassed for enabling full stack automation for building, deploying, and managing highly distributed Big Data and cloud applications such as those processed on Hadoop. Further, the flexibility afforded by StackIQ's deep integrations with all of the major Hadoop distributions and cloud platforms such as OpenStack have made it the popular choice for DevOps seeking accelerated time-to-market for new services.

"The convergence of cloud and Big Data are reshaping today's enterprise data center. Highly distributed application architectures are now becoming the 'new norm' as customers are harvesting mountains of data to derive insights and drive competitive advantage," said Sherman Chu, Managing Partner, Grayhawk Capital. "Underpinning this reality is the need for an infrastructure that scales easily. StackIQ is solving this daunting task through the industry's only comprehensive cluster-aware automation solution for web-scale applications."

Alongside the funding news, the company announced that it has added John Oh as Vice President of Marketing. John brings to the company nearly two decades of experience across multiple infrastructure domains -- from networking to identity management to security and virtualization. He joins StackIQ from F5 Networks where he served as Vice President of Worldwide Marketing, responsible for corporate and global product marketing for all of its product lines. Previously, he served in senior leadership roles at both publicly-held and venture backed companies including Citrix Systems, NetScaler, FireEye, Infineta Systems, and Oblix.

"We are thrilled to welcome our new investors and marketing leader to the company as we enter our next phase of growth," said Tim McIntire, co-founder and CEO, StackIQ. "The investors and talent we are attracting to the company is a testament to the value being delivered to customers as well as the immense market opportunity ahead. The additional funding will allow us to scale our operations and elevate our market presence."

About StackIQ
StackIQ, the Web-scale IT automation company for the enterprise, simplifies the deployment and operations of large server clusters and distributed applications within enterprise data centers. Its proven technology is used by hundreds of organizations to automate, scale and manage Big Infrastructure that supports Big Data, cloud, and HPC. Visit us at www.StackIQ.com.

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