Fugue, Inc. announced it has closed an approximately $41 million Series D financing round, bringing the company’s total funding to more than $75 million. The company’s flagship product, also called Fugue, radically simplifies cloud infrastructure complexity at scale with its dynamic, software-defined cloud orchestration and enforcement system. The round was led by New Enterprise Associates (NEA), with participation from previous investor Maryland Venture Fund and new investor Future Fund, the sovereign wealth fund of Australia.
The funding comes as Fugue prepares to launch new enterprise-grade cloud infrastructure automation products that provide enhanced capabilities for team collaboration, dynamic infrastructure control, and continuous enforcement of regulatory compliance. The company plans to use the newly raised funds to fuel its go-to-market strategy and accelerate product development to meet the requirements of enterprise customers needing an end-to-end approach to reducing deployment friction, automating the cloud lifecycle, and mitigating risk in the cloud.
“Cloud adoption is moving at a breathtaking pace, and enterprises are running into challenging hurdles when attempting to operate in the cloud at scale, impeding velocity of application delivery and, ultimately, their ability to compete effectively,” said Ron Bernal, venture partner, NEA. “With its patented approach to solving modern-day cloud challenges, Fugue is well positioned to help enterprises fully realize the potential of the public cloud for the new era of agility and innovation. We are excited about our partnership with the Fugue team.”
Fugue is a holistic, extensible, and cloud-native system for managing the entire cloud infrastructure stack as an automated process at the cloud API layer. In contrast, existing DevOps tools typically address isolated segments of the cloud infrastructure management problem. Furthermore, cobbling these disparate solutions together requires significant development and manual maintenance of custom code to create a scalable cloud toolchain. Fugue uniquely offers a strategic, streamlined approach to managing cloud operations and supports customers through the entire cloud journey, from migrating legacy applications from the datacenter to deploying modern workloads that leverage today’s container-based and serverless services–and future services yet to be introduced.
“We developed Fugue with the vision that modern cloud architectures must be highly flexible, allow for innovation at velocity, and deliver always-on resiliency – all while operating at the scale enterprises demand,” said Fugue Co-founder and CEO, Josh Stella. “The massive shift from the datacenter to the public cloud, combined with the constant introduction of new cloud service offerings has created a complicated landscape for enterprise users to navigate. Fugue solves this complexity by giving the enterprise user the ability to provision, operate, enforce, and terminate cloud workloads with unprecedented ease and control. With the strong support of our investors, Fugue is committed to solving complex cloud challenges both today and well into the future.” Morrison & Foerster LLP served as legal counsel to Fugue in connection with the financing.
Fugue Inc. radically simplifies cloud operations with its software-defined system for dynamically orchestrating and enforcing cloud infrastructure at scale. Teams can use Fugue to declare the desired state of cloud infrastructure and policies in a collaborative, human-friendly programming language and automate the provisioning, management and teardown of complex cloud environments, while continuously enforcing infrastructure state and policy compliance. Fugue has eight patents granted and sixteen pending. The company is privately held and headquartered in Maryland, with investments by New Enterprise Associates, Future Fund, Maryland Venture Fund and Core Capital Partners. To learn more about the company, visit www.fugue.co.