Stacklet Secures $18 Million in Series A Funding

Stacklet, developer of the cloud governance platform based on Cloud Custodian, today announced it has closed $18 million in Series A funding. The investment was led by Addition with participation from Foundation Capital and new individual investor Liam Randall. The funds are earmarked for continuing the support and growth of the Cloud Custodian community, advancing the Stacklet platform, and hiring in engineering, marketing, sales and customer success.

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Stacklet exited stealth in August 2020. The company has developed a real-time cloud asset database, added hundreds of policies to its Policy Packs and signed multiple design partners for its cloud governance platform.

Cloud Custodian has been downloaded more than 2 million times since August 2020, is part of the CNCF Sandbox, and has almost 300 active contributors including Amazon, Microsoft and Capital One. The company has added Randall to its leadership team as vice president of business development. Along with investing in early-stage companies, Randall is a long-time security executive and, most recently, was vice president of software innovation at Capital One.

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“We made our seed investment in Stacklet because we believed in Travis and Kapil’s vision and saw the great potential of Cloud Custodian,” said Lee Fixel, founder, Addition. “Stacklet has consistently delivered, innovated and hit its milestones. We’re thrilled to build on our initial investment and continue to support the company on its journey.”

“We are continuing to innovate the way we do cloud and how we manage access, control, governance and costs,” said Hilik Kotler, CISO, FICO. “We like to foster innovation by working with disruptive, early-stage startups and think Stacklet aligns very well to our roadmap.”

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