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CLOUDSPHERE IS BORN: Cloud Management Platform Company Raises $15M to Create a Category Leader and a New Vision for Multi-Cloud Governance

Written by Customer Service on . Posted in Mergers And Acquisitions.

LOS ALTOS, Calif. and DUBLIN, Ireland, July 01, 2020 (GLOBE NEWSWIRE) — HyperGrid, a leader in cloud management and governance, and iQuate, a leader in agentless discovery and application mapping, today announced they are combining to create CloudSphere. CloudSphere’s flagship Cloud Governance Platform provides enterprise and cloud service provider customers with governance for migration planning, security posture, identity, compliance and cost management across multiple public clouds.CloudSphere is the only Cloud Management Platform that uses application discovery and dependency mapping to build a data set that groups cloud resources by application. This powerful new application-centric vision of cloud governance provides a significantly improved approach to cloud migration planning, cloud cost management and cloud security posture management. As Enterprise cloud adoption continues at a massive scale, the markets for cloud migration planning, cloud cost management, and security posture management are rapidly converging into a single multi-billion dollar market. “Cloud adoption in the Enterprise is well underway and promises to be one of the most significant technology shifts in this decade,” said Patrick McNally, CEO of CloudSphere. “The market has made it clear that the cloud is the path forward, but there remains a clear need for comprehensive cloud governance. Combining these two innovative companies significantly accelerates the path for us to build the governance solutions needed to support this market transformation.”“Early on we recognized the common vision of our two companies, and the natural alignment of the product lines extended across our entire portfolio,” said Manoj Nair, HyperGrid Founder and CloudSphere Board Director. “HyperGrid was recognized as a visionary in the Cloud Management Platform category and built a unique position combining stand-alone cloud management and cloud security posture management capabilities for cloud governance. The complementary product lines allow CloudSphere to quickly round out a comprehensive cloud governance platform for our customers that delivers a truly differentiated, application-centric approach.”Combining the capabilities of both companies, CloudSphere has developed a multi-cloud capable Cloud Governance Platform that includes solutions for:Cloud Migration PlanningReducing migration risk when planning a move to the cloudCloud Cost ManagementEliminating surprise cloud bills with real-time proactive budget alertingCloud Security Posture ManagementControlling access sprawl with unique cloud identity and access managementWith global offices in Los Altos, CA and Dublin, Ireland; CloudSphere serves Fortune 500 customers as well as a global customer base of MSP’s accelerating digital transformation with an with an intelligent multi-cloud governance framework.According to the Gartner Magic Quadrant for Cloud Management Platforms, “In the course of this research, several key observations emerged from the providers’ strategies and successful/unsuccessful deployments that should be carefully considered during an organization’s CMP strategy formulation and solution selection. They include a growing demand for using CMP solutions to apply governance that allows the enforcement of cloud service standards where the key areas of governance are around cost management and security.” [1]The CloudSphere funding round was led by Atlantic Bridge Capital.  “Public cloud adoption has created a number of compelling opportunities for disruptive innovation, and we see a growing need for cloud governance as organizations mature in their use of the cloud,” said Kevin Dillion, managing partner of Atlantic Bridge and Executive Board Chair at CloudSphere. “We are thrilled to partner with CloudSphere to help accelerate their ability to bring application-centric Cloud Governance innovation to the market.” Also joining the CloudSphere Board of Directors are Greg Nicastro formerly CPO CloudHealth, acquired by VMware, and Joe Macri formerly Vice-President Microsoft Corporation.[1] Gartner – Magic Quadrant for Cloud Management Platforms, Dennis Smith, Sanjit Ganguli, Padraig Byrne, February 13, 2020About CloudSphere
CloudSphere’s flagship Cloud Management Platform enables enterprises and cloud service providers to simplify and optimize cloud migration, management, and governance. Our multi-cloud solutions use a unique application-centric approach to allow users to see beyond individual cloud resources and manage applications in the cloud. Headquartered in Los Altos, Calif. and Dublin, Ireland, CloudSphere supports a diverse global customer base across industry segments including telecommunications, software, finance, insurance, healthcare, construction, and education. For more information, please visit www.cloudsphere.com Media Contact:
Samantha Cartwright
VP Marketing, CloudSphere.com
Samantha.Cartwright@cloudsphere.com 

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