As first reported in BusinessWire:
Alexandria, VA – April 14, 2022 — Greymatter.io Inc., an enterprise microservices platform provider, today announced the close of a $7.1 million Series A round. Led by Elsewhere Partners, the funding will fuel Greymatter.io’s global growth as demand intensifies for its comprehensive microservices platform, which includes service mesh and API management for enterprise-scale IT environments.
“Organizations are quickly realizing that they must future-proof their IT infrastructures. The distribution of software, APIs, data, and users across hybrid, multi-cloud, and on-premise systems has created dramatically more complex networks that large organizations (both public and private) are struggling to control, secure and monitor,” said Chris Pacitti, founder and partner of Elsewhere Partners. “We have been watching Greymatter.io execute on their vision for an enterprise microservices platform for more than three years. They have proven the strength and scalability of their platform to effectively manage the explosion of configuration sprawl, security, governance, and risk needs.”
The News for Enterprises
In enterprise hybrid and multicloud operations, IT leaders must control complexity, trust nothing, and see everything. The global service mesh market is growing, with some analysts predicting it will exceed $2.3 billion by 2028. This growth supports the complexities of service-based architectures. Greymatter.io has been a leader in the space since 2015. It helps large organizations reduce operational costs by up to 30 percent. Greymatter.io enables DevSecOps and NetSecOps teams to manage complexity, secure networking with zero-trust, and monitor IT environments. Recognized as an industry outperformer by GigaOm, the Greymatter platform provides cloud- and platform-agnostic solutions. It uncovers and resolves issues like misconfigurations, unvetted configurations, vulnerabilities, data leaks, and failed audits.
“Greymatter.io has become an industry leader due to our talented team and commitment to easing customers’ top infrastructure burdens,” said CEO Chris Holmes. “With an investment partner dedicated to customer-driven, product-led growth, there are no limits to our future. We will continue providing the most comprehensive modern microservices platform based on a service mesh. It helps public organizations and private enterprises tackle complexity, governance, analytics, and zero-trust security across clouds, on-premise systems, applications, and endpoints.”
How Greymatter is Winning
After years of serving global government and defense organizations, Greymatter.io will use the funding to expand its platform in both public and private sectors. The company will build out its team and accelerate platform enhancements. It will also add support for key open source projects and cultivate new partnerships in zero trust security and data mesh to maintain market leadership.
Timed with the investment, seasoned enterprise B2B software industry executives Mike Kushin and Michele Perry (an Elsewhere Partners operating advisor) will join the Board to help support the company’s market expansion and recruiting efforts.
About Greymatter.io Inc.
Greymatter.io, a venture-backed microservices platform provider, is leading the next era of intelligent service mesh and API management. It solves complex challenges in DevSecOps and NetSecOps pipelines through production operations. Led by experts, the company builds infrastructure intelligence solutions to help customers manage, secure, and operate enterprise software. The platform’s growing user base includes some of the largest, most security-conscious, globally decentralized organizations.
About Elsewhere Partners
Elsewhere Partners is a growth-stage venture capital firm that invests in Elsewhere Outliers. These include business software companies that are located outside of traditional venture capital hubs. Also, those that have achieved substantial customer traction and revenue growth without significant outside funding. Elsewhere Partners combines transitional capital with transformational expertise to help companies achieve exit readiness on their own terms. To learn more, visit www.elsewhere.partners.
Media Contact:
Taloyr Johnson
taylor.johnson@greymatter.io