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Today, enterprise microservices platform provider Greymatter.io Inc announced it has closed a $7.1 million Series A funding round led by Elsewhere Partners, which it will use to expand globally.
Greymatter.io has attracted significant investor interest because it offers a microservices-aware infrastructure management solution that IT teams can use to build networks of applications and APIs.
It can also enable users to automate repetitive tasks and manage application network configurations with an agnostic service mesh, gateway, and application infrastructure as code capability.
For businesses, it gives users a holistic view of the entire infrastructure used in their network, so they can more effectively manage and protect individual components.
The challenge of microservices
Microservices have become increasingly popular in recent years as more organizations look to use them to build scalable applications. However, this has come at the cost of increased complexity, which has made hybrid environments more difficult to manage and secure.
Research shows that 50% of companies report difficulty integrating cloud and on-premises environments and 54% believe that talent with this experience is expensive and hard to find.
“The need to control, secure and monitor increasingly complex networks is intensifying. Adopting solutions to increase agility creates a massive increase in configuration sprawl and new security, governance and risk concerns that all too often continue unchecked,” said Greymatter.io Founder and CEO Chris Holmes.
“As the number of clouds, on-premises systems, applications and endpoints continue to proliferate, so do infrastructure management burdens. IT operations teams need vetted partners who can offer comprehensive tools that can scale to meet their evolving needs, especially the ones they don’t yet know about.”
Greymatter.io was designed to manage these infrastructure management burdens by giving users a tool to monitor infrastructure such as endpoints, application APIs, event infrastructure, and databases, with AI telemetry and tapping to generate insights. about the status and trends of use.
This approach ensures that companies can manage and control the resources deployed in a hybrid environment and optimize the use of computing resources.
A look at the market
The announcement comes as researchers expect the cloud microservices market to grow from $831.45 million in 2020 to $2,701.36 million by 2026 as more organizations adopt cloud services after COVID-19.
Greymatter.io competes against many other providers in the space, including Solo.io, which offers an Envoy Proxy-based API gateway for managing application traffic at the edge of the network called Gloomed Edge, and Glow Mesh, a mesh of Istio-based service to increase visibility over distributed applications.
Solo.io is one of the biggest providers on the market, having achieved a $1 billion valuation last year following a $135 million Series C investment.
Another major competitor is application networking company Tetrate.io, which provides a platform for monitoring and managing application configurations and access controls across cluster, cloud, and data center environments.
Since its launch in 2015, Tetrate.io has grown rapidly, most recently announcing the raising of $40 million in series B funding last year.
However, Holmes argues that Greymatter.io is the only solution that offers a simple approach to managing hybrid cloud environments. “Other solutions that try to solve these problems are incredibly complex to implement, often leading to fragmented execution with gaps in development skill sets.”
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