Scaler, a cloud-computing software provider, has announced a $55M Series B funding round. Led by Insight Partners and existing investors such as Sequoia Capital India, Accel and Oakhouse Partners, the new capital infusion is a major boost for the scaler’s product development and customer growth.
This funding round brings Scaler’s total funding to over $82M.
Scaler is a company leading the charge in distributed infrastructure as-a-service. Since its inception in 2017, Scaler has been focused on enabling developers and teams to quickly spin up servers and services using a self-serve API platform. As a result, it has made development processes faster, more secure, and future proof for customers.
Scaler today announced that it has closed an impressive $55 million Series B led by new investor Bain Capital Ventures with well-known VC Funds from Andreessen Horowitz and Cowboy Ventures participating in the round. This capital will ensure the company can continue significant product development and attract top talent as it enters an amazing new period of growth.
Scaler is making distributed computing mainstream by abstracting away complex underlying technical operations so teams can focus on building rather than configuring infrastructure.
Scaler Announces $55M Series B Funding
Scaler recently announced an additional $55 million in Series B funding, which brings its total venture capital raised to date to $76 million. This investment round was led by strategic investors and venture capital firms, including Emergence Capital and M12 (formerly Microsoft Ventures).
Series B financing is the name given to a startup venture’s second major fundraising round, coming after the initial Seed Round and before later rounds such as C, D or E rounds. This type of funding is usually used to launch a new product or service, expand into new markets, or increase capacity for existing operations. The investment helps businesses scale up typically with a combination of money and expertise from investors who take an active role in helping the company grow strategically.
The funding will enable Scaler to continue accelerating its growth plans on product innovation and customer acquisition while focusing on driving long-term growth opportunities across its core verticals — edtech, healthcare, logistics and more — that can provide customers with unique advantages in their respective industries. In particular, Scaler expects this additional capital to help it add more advanced AI-supported solutions such as automated scheduling and personalized recommendation engines for its clients.
Scaler has announced a $55M Series B Funding led by Tiger Global, including participation from existing investors Accel, Sequoia Capital India, Y Combinator, and AngelList India.
This brings the total funding in the company to $75M. This investment is a huge milestone for Scaler as it will help the company accelerate its products and services.
Let’s take a closer look at the details of the Series B Funding.
Scaler, the startup that enables teams to deliver large-scale data services faster, has announced a $55M Series B round of funding led by Accel and joined by prior investors Sequoia India, Blume Ventures and Foundamentum. With this new round of funding, Scaler has now raised over $67M in total financing, enabling the company to accelerate product innovation and build a global network for its customers.
The funding also brings on board several new investors including Nexus Venture Partners, M12 (Microsoft’s venture fund), Tomorrow Capital, JB Junkers & Company and others. These business leaders are joining Accel in investing capital and their time and expertise as advisors to Scaler’s team in building the business.
The funds from this new round will help Scaler scale its go-to-market efforts and extend its reach into markets outside of India like SE Asia, Europe and the US. Additionally, the funds will be used to expand into adjacent spaces like cybersecurity by launching a cloud security practice for customers that want to encode sensitive data safely even when dealing with large data sets.
Scaler, an India-based startup specializing in providing infrastructure and tools to enable digital transformation, announced its Series B funding round totaling $55 million. The investment was led by Insight Venture, with participation from Lightspeed and Sequoia Capital.
This Series B follows a successful Series A investment of $24 million in January 2020, bringing the total venture capital raised to around $79 million. The funds will be used in key areas such as product development and global presence expansion, allowing Scaler to meet the growing demand for their services.
Sreedhar Reddy, CEO of Scaler said the following about the investment: “We are thrilled at the confidence our investors have shown in us with this extended round of funding. We have seen tremendous growth this year due to our unique combination of platform services which enable organisations to become truly digital.”
The Series B was one of few investments secured during a challenging year for many companies due to the impact of COVID-19 on businesses worldwide. This funding shows investor confidence and highlights Scaler’s potential growth trajectory moving forward into 2021 and beyond.
Use of Funds
Scaler, a tool for developers to optimize code, announced a $55 million Series B funding round led by Sequoia Capital. Other investors in the company include Index Ventures and EQT Ventures.
The funds will primarily support the continued growth and expansion of Scaler’s products and teams. The objective is to build a suite of cloud-based tools that allow developers to optimize code quickly with minimal effort. Scaler’s products are currently being used by over three million users worldwide, including over 400 enterprise customers.
In addition to building out its offering, Scaler plans to use the funding to bolster its presence in international markets. The company aims to double down on hiring top engineering talent from around the world, including recent graduate talent and those from underrepresented groups in technology. As part of this effort, Scaler will invest significantly in new job posts and internships designed for developing technical skillsets for those early in their career path.
Finally, some of the funds will be allocated towards marketing initiatives, focusing on driving prospective customer acquisition through technology communities such as Stack Overflow or forums like Reddit or Hacker News and traditional media channels including TV and print advertising/ PR efforts.
Scaler has just announced it has raised $55M in series B funding to fund its growth ambitions. This injection of funds will be used to hire new talent, expand its product and engineering teams, and accelerate its global expansion efforts.
Scaler hopes to use this new capital to create an even more impactful presence in the technology industry.
Scaler announced its recent Series B funding of $55 million to fuel an aggressive expansion plan for the company. The injection of capital will allow the company to expand locally and globally, focusing on expanding their technology and enterprise solutions.
As part of this expansion, they plan to launch a new version of their product aimed at larger enterprises and will increase focus on hiring top engineers and cloud architects, in all major cities where Scaler is active. Building deeper relationships with distribution partners and customers is expected to drive greater impact among current users and growth in regions worldwide.
The round was led by David Bonderman’s TPG Growth, with participation from existing investors Accel and Sequoia Capital India. The funds add to Scaler’s previous rounds totaling $74M in the last 18 months alone.
Building on this momentum, Scaler plans to double its current staff of 300 next year from offices in San Francisco, London, Berlin, Gurgaon (India), Sydney (Australia) , Taiwan & Tokyo. In addition to investing more heavily in scaling up their operations, top-line revenue is now projected for 3x growth over the next 12 months using only internal resources such as hiring Sales & Account Managers across Europe & USA and Asia-Pacific regions local country focused support and marketing teams.
With the additional investment from Series B funding, Scaler has the financial resources to bring several new products and services to market. The most significant development for Scaler going forward are cloud-based analytics, machine learning and AI capabilities. In addition, with the additional funds, Scaler will be able to increase its product portfolio to include more sophisticated predictive capabilities.
The funding will also enable Scaler to invest in risk-strategizing tools, centralized data management platforms and security measures—all focusing on leveraging innovative approaches and cutting-edge technologies that reduce costs while optimizing productivity. These investments are important for our internal operations and providing customers with the best possible service delivery on their own individualized cloud platform needs.
The investment also allows us to expand into new markets, giving us greater exposure and presence in different countries across multiple locations. This extra reach will allow us to provide enhanced customer experiences across many more geographical locations globally. Additionally, this expansion means that existing customers can take advantage of increased levels of support even during high volume times or peak hours when demand is especially high.
Scaler’s Series B funding announcement showcases the investor commitment to the company and its future vision. With this capital injection, Scaler can now expand its services and invest in new opportunities to become a leader in the tech industry.
In this article, we’ll explore what this means for Scaler’s prospects and competitive landscape.
Scaler, an enterprise platform that automates software deployment and operations scaling, announced a $55M Series B round of funding today. This is a major milestone for the company to help them achieve their long-term goals of becoming a leading provider of enterprise software management solutions and building automation technologies for modern enterprises.
The funds raised from this round will be used to accelerate product innovation, expand into international markets, invest in additional data science capabilities, and grow their sales and marketing teams. Their goal is to continue to develop products that empower customers with insights into their application performance and help them scale their infrastructure or products efficiently with minimal effort.
Additionally, the new funding will enable Scaler to build out its platform capabilities by integrating best-in-class automated technologies such as edge compute, analytics, self-learning AI/ML workflows that anticipate customer needs to deliver unparalleled service. This way they can ensure fast delivery times while maintaining scalability when managing large workloads or applications at any scale. The strategic investments made by investors reinforce Scaler’s long term vision which aligns with its mission; making it easier for businesses worldwide to manage their data centers efficiently with complete confidence on all fronts in the most cost effective manner.
Impact on Industry
Scaler’s $55M Series B funding will significantly impact the industry at large. Scaler’s innovative digital scaling platform can disrupt multiple industries, including website hosting and software development. By investing in its technology, Scaler can accelerate its growth and expand into new markets, improving its product offering and customer reach.
The $55M of funding allows Scaler to tackle new challenges more confidently, enabling faster product iteration cycles and offering customized solutions to meet customer needs. These improvements will likely be reflected across several industries as larger companies move away from legacy systems in favor of advanced solutions that streamline their processes. Additionally, Scaler can now widen its focus on delivering more cost-effective solutions featuring improved scalability that minimizes customers’ long-term costs associated with using their platform.
Scaler’s newfound ability to leverage a larger number of resources will enable it to forge even stronger partnerships within the industry, helping businesses increase efficiency by combining their solutions with existing infrastructure or expanding the range of services they provide for customers. On top of this, further investment rounds may make additional money available for further development into untapped areas such as artificial intelligence or automation.
Overall, the impact of Scaler’s recent series B funding round is far reaching; it stands to revolutionize entire industries and offer customers new avenues for adding value to their business operations while reducing their overall spending costs.
This investment will ensure that Scaler can continue to build and expand their platform. This means access to sophisticated and intuitive operations tools and platform scalability for customers. Already Scaler has become the platform of choice for DevOps teams from organizations worldwide.
Importantly, it will also allow Scaler to focus on innovation in machine learning, artificial intelligence, automation and orchestration capabilities — all critical to digital transformation success. In addition, this funding should ensure that Scaler can continue to provide its customers with reliable support for their projects and products.
Overall, this $55 million Series B Equity funding is great news for Scaler customers as it shows investors’ confidence in the company’s culture and ambitious growth plans. This investment will help Scaler further invest in new aspects of its platform while ensuring its commitment to providing customers with a reliable and innovative DevOps experience.