SUNNYVALE, Calif & TEL AVIV, Israel--(BUSINESS WIRE)--First paragraph, second sentence of release dated March 29, 2023 should read: The company grew by 450% in FY 2022, signing a number of new customers including MGM Resorts International, PayPal, and VMware.
The updated release reads:
env0 RAISES $35 MILLION SERIES A LED BY VENTURE GUIDES
Provider of Infrastructure as Code (IaC) Closes 2022 with 450% customer-led growth
env0, a provider of Infrastructure as Code (IaC) workflow automation and management software, today announced it has secured an additional $18.1 million of funding to conclude its Series A investment round with a total of $35.1 million. The company grew by 450% in FY 2022, signing a number of new customers including MGM Resorts International, PayPal, and VMware. env0 will use the new funds to accelerate research and development of new products to scale customer cloud operations safely.
This latest round, which brings env0’s total funding to $41.9 million, is led by Venture Guides, a new firm formed by industry veterans from Bain Capital Ventures. The round includes new investors StepStone Group and Knollwood Investment Advisory, with all existing investors boldstart ventures, Grove Ventures, Microsoft’s M12 and Crescendo Venture Partners participating as well. The funding is Venture Guides’ first major investment from their initial $200 million fund.
“Customers actually enjoy managing their public cloud environments safely at scale with env0,” said Ben Nye, Managing Partner at Venture Guides. “At the same time, developers enjoy a much faster time-to-value with self-service environments, allowing them to deliver more innovative features and products faster. In addition, DevOps teams gain improved security, reduce cloud costs, and enable governance with policy safeguards while avoiding IaC tool vendor lock-in. env0 is the right solution for customers wanting to manage and grow their cloud operations.”
Businesses want to accelerate their cloud adoption, but often encounter challenges of complexity, scale, and security. IaC helps customers solve these challenges, making it a top strategic imperative. Today, the IaC market is growing by more than 30% annually and is projected to reach more than $3.5 billion by 2030. Most IaC tools, however, address only technical implementation and provisioning issues without regard for user experience, security and governance, or business goals. In fact, developers frequently believe business policies hinder their ability to drive innovation. With env0, users gain frictionless access to self-service infrastructure environments and resources. This governed access allows production environments to be kept safe without limiting companies’ innovation.
The funding builds momentum on a banner year in which env0 grew revenue by more than five times, customer count by two and a half times, and shipped key feature additions, including:
- Support for more IaC tools: CloudFormation, Pulumi, Terragrunt (including the popular run-all capability)
- Automated drift detection
- Support for Azure DevOps , finalizing env0’s support in all major version control system platforms
- Terraform end-to-end functionality: Terraform remote backend, module registry, remote plan, Plan/apply on PR
- Enterprise-focused capabilities including multi-tier workflows, auditing, external logging platform integration, pluggable integration architecture, and expanded RBAC and OIDC authentication.
“We selected env0 because of its unique ability to centralize our Terraform management to improve visibility into our IaC deployment pipelines,” said Avior Malkukian, Director of DevOps at BigID. “With env0, we now deploy with complete confidence, and we know how to catch issues before they make it to production. Our platform is more reliable, which has translated to happier BigID customers.”
“While IaC tools unlock amazing benefits for businesses and enable rapid iteration and innovation, the biggest rewards can only be realized by scaling it effectively,” said env0 CEO and co-founder Ohad Maislish. “env0 is becoming increasingly important to our customers’ infrastructures. Our solutions help them scale and manage their IaC tools—dramatically cutting their deployment times and enabling self-service for their teams without neglecting compliance.”
env0 is the best way to deploy and manage your IaC, including Terraform, Terragrunt, CloudFormation, Pulumi, Kubernetes, and others. The env0 platform enables users and teams to collaborate and provide self-service cloud deployments, all with advanced policies to meet governance and compliance. With env0, every engineer, from development, operations, and DevOps can deploy infrastructure simply, quickly, and safely. Maximum productivity, minimum friction.
About Venture Guides
Venture Guides is an early-stage firm offering a unique investing and operating approach that helps startups with product management and commercialization strategies in the infrastructure software domain. The firm’s transparent and team-based approach delivers entrepreneurs consistent yield and strong profit performance. Forbes Midas List and Inc. 5000 rankings have recognized the performance-driven achievement of Venture Guides’ partners multiple times. “We are guides for growth.”