Rancher Labs, a start-up based in Cupertino, California, closed a $40 million Series D funding round for its Kubernetes management platform.
Sheng Liang, CEO at Rancher Labs said, “In 2019, we experienced 169% year-on-year revenue growth, and this round of funding is the ultimate validation of the market and our unique technologies. Just as Linux became the standard computing platform for the data center, cloud, and devices in the 2000s, we fundamentally believe Kubernetes is fast becoming the ubiquitous enterprise computing platform for multi-cloud, heterogenous IT environments in the 2020s.”
Rancher Labs said it will use the funds to continue executing against their Run Kubernetes Everywhere strategy, specifically in three areas:
- Accelerate Innovation – Leveraging Kubernetes as the common computing standard, the company will continue to innovate in key areas including heterogenous cluster federation, fleet management, and Kubernetes at the edge.
- Go-To-Market Expansion – The company will expand sales coverage, marketing, finance, operations, customer success, and customer support. Additionally, the company has plans to expand geographic coverage within and beyond the fourteen countries where they currently operate.
- Market Expansion – Leveraging their leadership in Kubernetes at the edge, the company will work with leading technology companies to develop innovative solutions in markets including 5G, digital factories, connected cars, video surveillance, and medical research.
The round was led by Telstra Ventures. One of its investors, Telstra Corporation, is a Rancher Labs customer and is Australia’s largest telecommunications company. The funding round also included participation from existing investors Mayfield, Nexus Venture Partners, GRC SinoGreen, and F&G Ventures, bringing total funding to date to $95 million.