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Cloud Startups Reel In Funding; Cloudflare Leads Pack With $150M

The cloud market continues to attract major investment from venture capital and private equity firms as companies try to grab a piece of the estimated $1 trillion in enterprise information technology spending this year.

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Enterprise Service Mesh Company Tetrate Launches With Dell Backing

Tetrate emerged from stealth mode to launch a new enterprise service mesh company with $12.5 million in funding led by Dell Technologies Capital.

The San Francisco startup is entering the networking market by leveraging Envoy and Istio, industry-standard, open-source “service mesh” networking projects for microservices.

The company’s CEO is Varun Talwar, a co-creator of Istio at Google and founding project manager of gRPC, a high-performance, open-source universal remote procedure call framework.

“Fortune 500 enterprises need a microservices-friendly networking layer to power their digital transformation, including application modernization and public/hybrid cloud adoption,” Talwar said in a statement. “Tetrate’s mission is to create a secure and flexible application networking layer to help enterprises transition from their decades-old rigid networking stack. Our tools and technologies will help customers with availability and manageability of their applications as they undergo this transformation.”

Tetrate will use the funding to build its enterprise-grade service mesh platform, which it said will make it easy for DevOps, security and network administrators to manage the complexity of the modern hybrid cloud application infrastructure, and to expand its open source contributions.

It also announced a collaboration with Google for operating hybrid cloud environments with Istio and another partnership with the Cloud Native Computing Foundation.

Intel Capital, 8VC, Rain Capital and Samsung NEXT also participated in the funding round along with Pankaj Patel, former chief development officer at Cisco; Guido Appenzeller, Yubico’s chief product officer; BV Jagadeesh, founder of Netscaler and managing partner at KAAJ Ventures; and Shiva Rajaraman, WeWork’s chief product officer.

 
 
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