June 25, 2024
tetrate 40m series sapphire venturesshiebertechcrunch

Tetrate has commercialized Istio’s open source networking platform that enables easier data sharing across various applications. tetrate 40m sapphire venturesshiebertechcrunch. Founded in the year 2018, the startup was formally launched a year later. A funding round of $12.5 million in the initial phase boosted it’s profile and helped in commercializing services around Istio and Envoy Proxy open source projects.

The company recently raised an amount of $40 million in a funding round led by Sapphire Ventures. The recent investment has laid some light on the importance of the project and the criticality of the services that facilitates cross-platform data sharing.

Some of the new investors who participated in the funding round were Scale Venture Partners and NTTVC along with the existing investors like Dell Technology Capital, 8VC, Intel Capital as well as Samsung NEXT.

Tetrate will be using the money to further develop the hybrid cloud application networking platform. Supporting a new Istio-based product is also on the card with an intent to make the service mesh user-friendly. The company is even planning to work towards geographical expansion. It will be targeting Latin America, Asia and Europe now that it has 40 million simoleons to play around with.

The company has reaped fruits of the fact the microservices revolution is picking up and the Istio-based project is built with microservices and deployed on containers. The expert team of Tetrate aims at bringing Istio in the mainstream for enterprises by making it easier for them to manage and deploy on multi-cloud as well as hybrid cloud environments.   

Till date, Tetrate has bagged a number of big customers like U.S. Department of Defense and others. Nicolas Chaillan, the Chief Software Officer of U.S. Air Force stated that they have partnered with Tetrate for a smooth and secure operation of Platform One with Istio.

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