CoreOS Adds $28 Million in Series B Funding from Leading Venture Capital Firms to Deploy, Manage and Secure Containers Anywhere

SAN FRANCISCO and BERLIN, May 9, 2016 /PRNewswire/ -- In validation that hyperscale, container-enabled infrastructure will lead the next computing phase of enterprise companies, CoreOS, Inc. today announced it has received $28 million in Series B funding to support rapid expansion from a consortium of investors led by GV (formerly Google Ventures). Intel Capital participated in the round, as well as existing investors Accel, Fuel Capital, Kleiner Perkins Caufield & Byers (KPCB), Y Combinator Continuity Fund and others, bringing the company's funding to date to $48 million.

CoreOS, a leader in deploying, managing and securing software containers, will use the additional funding to continue development of its solutions that enhance delivery of Google's Infrastructure For Everyone Else (GIFEE), as well as to grow its team in the United States and Europe, hiring for its offices in San Francisco, New York and Berlin.

"For sophisticated enterprises, the inclusion of a container-based approach is inevitable," said Dave Munichiello, General Partner at GV. "Software containers empower development teams to focus on building great applications without regard for the underlying IT infrastructure. CoreOS's Tectonic product packages Google's Kubernetes for enterprises, enabling them to run applications seamlessly across public and private clouds and their own data centers. With CoreOS, now the rest of the Fortune 500 has access to a fully-supported version of the same secure, resilient, highly-available approach that the best web-scale businesses use daily."

CoreOS plans to continue building and delivering its full enterprise solution Tectonic, the enterprise Kubernetes distribution for running and managing application container clusters, and the Quay container registry. CoreOS will continue leading development of its open source projects that are securing the Internet including CoreOS Linux, the lightweight Linux operating system; etcd, the distributed, consistent key-value store; rkt, the container engine alternative to Docker; and Clair, the container image security analyzer. These key components developed by CoreOS in collaboration with the greater open source community are a part of delivering GIFEE to enterprises.

Tectonic, the completely supported technology stack for deploying containers in production, is built on CoreOS Linux and the Kubernetes cluster orchestrator and packages an array of tools for deploying, monitoring, and managing applications and infrastructure. With support from Intel, Tectonic will help make OpenStack on Kubernetes ready to deploy and manage for the enterprise.

"Hyperscale build-outs have been a key accelerator of server volume growth in recent years, and next generation applications is one key workload helping drive that growth. We find enterprise customers are increasingly interested shifting their focus from maintaining legacy applications to developing new applications and Web services using modern infrastructure software," said Al Gillen, group vice president, enterprise infrastructure at IDC. "Standing up modern applications requires a full infrastructure software stack that includes, but goes well beyond container packaging technology. More complete solutions, such as those CoreOS offers, help to unlock this new class of capabilities and benefits for leading enterprises to run their business."

"We are in the middle of an important transition in the next major phase in enterprise computing since virtualization and cloud, where enterprises are on the path to embracing Google-style infrastructure," said Alex Polvi, CEO of CoreOS. "Kubernetes is on point to be as ubiquitous as Linux. With this investment, CoreOS is at the forefront of bringing GIFEE to enterprises by providing the most advanced and secure Kubernetes distribution."

"Enterprises are looking to adopt some of the IT best practices of hyperscale cloud providers to deliver lower cost of ownership and high agility," said Jason Waxman, corporate vice president of the Data Center Group at Intel Corp. "Intel's investment and collaboration with CoreOS will accelerate the efficiency, security, and consistency of hyperscale computing for the broader industry."

CoreOS is celebrating its open source community at CoreOS Fest in Berlin, May 9-10, and San Francisco, May 9.

Additional Supporting Quotes
"Data center infrastructure is ready for a renaissance that makes hyperscale a possibility for any business," said Michael Abbott, General Partner at Kleiner Perkins Caufield & Byers (KPCB). "We are strategically continuing investment in CoreOS because this team has the unique knowledge and skill to build enterprise products, including Tectonic, that deliver dynamic infrastructure capabilities required for businesses to stay competitive."

"CoreOS represents a fundamental shift in infrastructure technology that only comes around once a decade," said Jonathan Lehr, Managing Director of Work-Bench Ventures. "CoreOS is enabling enterprises to be more agile by taking advantage of container-enabled infrastructure, and we are looking forward to supporting the company in its disruptive growth and in delivering GIFEE."

Supporting resources

• CoreOS blog about open source and running the world's containers, https://coreos.com/blog/
• Tectonic blog for enterprises, https://tectonic.com/blog/
• Sign up for Tectonic, https://tectonic.com/

About CoreOS, Inc.
CoreOS, Inc. is running the world's containers securely on CoreOS, Tectonic and Quay. CoreOS is the creator of Tectonic, the universal Kubernetes solution, that combines Google's Kubernetes and the CoreOS stack to deploy, manage and secure containers anywhere. CoreOS' Quay technology allows companies to securely store Linux containers in private hosted repositories or behind customer's firewalls. In addition, CoreOS is the creator and maintainer of open source projects CoreOS Linux, etcd, fleet, flannel and rkt. The strategies and architectures that influence CoreOS allow companies like Google, Facebook and Twitter to run their services at scale with high resilience. Learn more at https://coreos.com/ or follow CoreOS on Twitter @coreoslinux.

About Intel Capital
Intel Capital, Intel's strategic investment and M&A organization, backs innovative technology startups and companies worldwide. Intel Capital invests in a broad range of hardware, software, and services companies targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested US$11.7 billion in 1,445 companies in 57 countries. In that timeframe, 212 portfolio companies have gone public on various exchanges around the world, and 383 were acquired or participated in a merger. Through its business development programs, Intel Capital curates thousands of meetings each year between its portfolio and Intel's partners in the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.

SOURCE CoreOS

Related Links

https://coreos.com