The company consolidates its branding and closes its Series C financing led by NEA
FREDERICK, MD Jan 14, 2016 — Fugue (formerly Luminal), a Maryland-based startup developing an infrastructure-level operating system for cloud computing, announced it has closed a $20M Series C financing round, led by New Enterprise Associates (NEA). Previous investors, including Core Capital, also participated in the round. This brings the total amount of financing to $34M. The company also announced its name change to Fugue [few-g], which is the name of its cloud operating system.
The rapid adoption of cloud computing brings new challenges as applications have become distributed and infrastructure has proliferated. Fugue reins in this complexity and simplifies operations by building, enforcing, and optimizing cloud infrastructure, continuously and automatically. Fugue can be used to operate cloud-native workloads and to migrate and run traditional datacenter applications in the cloud. It will initially operate workloads on Amazon Web Services.
“Until now enterprises have realized only a fraction of the cloud’s benefits, because increasing adoption has meant greater complexity,” said Harry Weller, General Partner at NEA. “To unleash the power of the cloud, management must be simple, automated, and provide a high level of control. Fugue’s radically new approach to managing cloud infrastructure is the missing piece that will redefine the value proposition for businesses and spur the next wave of cloud adoption.”
“As their first institutional investor, it’s been remarkable watching them build out a world class team and pursue a bold vision for the cloud,” said Pascal Luck, General Partner at Core Capital. “We’re seeing an increasing demand for cloud-native solutions to today’s IT challenges, and Fugue is uniquely positioned to help customers realize the promise of the cloud.”
“We view the cloud as a giant distributed computer, and Fugue is an operating system for the cloud that we’re building from first principles,” said Josh Stella, founder and CEO of Fugue. “The significant support we enjoy from NEA, Core Capital, and our other investors is what makes it possible for us to assemble the incredible team needed to tackle hard problems in distributed computing and empower customers to take control, move fast, and save money in the cloud.”