As companies deliver code ever faster, they need tooling to provide some semblance of control and governance over the cloud resources being used to deliver it. Env0, a startup that is helping companies do just that, announced a $17 million Series A today.
M12, Microsoft’s Venture Fund, led the round with participation from previous investors Boldstart Ventures, Grove Ventures and Crescendo Ventures. The company received a $3.3 million seed round, which we covered, last April and a previously unannounced $3.5 million add-on last summer. Today's round brings the total raised to $23.8 million.
The company's service helps companies control cloud costs, while giving developers the ability to deploy to the cloud with cost limits. It also provides a level of governance for code as it moves through the development cycle to deployment.
When we spoke to the company last April around its seed round, the company's product was just entering beta. It has been generally available for about four months now and they've built out a lot of functionality since then, according to company co-founder and CEO Ohad Maislish.
"The last time we spoke we were just focussed on manual self service and empowering developers in nonproduction environments. Now with infrastructure as code automation and teams and governance, we basically manage all of the cloud deployments for our customers," Maislish explained.
Since going generally available with the product this year, he reports the company now has dozens of paying customers and is generating revenue. Customers includes JFrog, Varonis and BigID.
The startup has also grown from just seven employees in April 2020 to 17 today with plans to reach 50 in the next 18 months it begins putting the new capital to work. He says that bringing in a diverse group of workers should help his company grow and bring different ways of solving problems. "I think that bringing people with different cultures, different backgrounds, is key in that they will bring [different ways of thinking]."
For now, the company is based in Israel with plans to open offices in the U.S.. Mailslish says that his plans to move to California were put on hold by the pandemic, but he hopes to open an office in Sunnyvale in the fall.
The Israeli office is a minimum of two days in the office, three days at home or whatever combination employees wish. He says that he plans to hire people in the U.S. office as he establishes himself there and some of those employees can be remote if it makes sense for the role.