SaltStack Completes Series A Financing Round Led by Mercato Partners Bringing Total Funding to $28 Million
SALT LAKE CITY, Feb. 14, 2018 /PRNewswire/ — SaltStack®, the intelligent automation platform for a software-defined world, today announced a $15.5 million series A financing round led by Mercato Partners, a leading growth capital firm. This new round is additive to previous investments from Peak Capital, Epic Ventures and Deep Fork Capital and brings total SaltStack funding to $28 million.
“The SaltStack team has built a successful software company that is changing the way IT organizations manage and secure digital resources from the data center to the very edges of the network,” said Ryan Sanders, Mercato Partners director. “IT organizations use SaltStack intelligent automation to detect and counteract critical threats such as the Spectre and Meltdown vulnerabilities. This is just one way SaltStack can help CIOs and IT leaders reduce risk, enable digital business and show ROI in months, not years. We look forward to supporting SaltStack growth through our investment.”
In 2017 SaltStack launched SaltStack Enterprise as the industry’s first IT management solution built to scale and replicate human intelligence for more efficient and autonomic infrastructure. SaltStack Enterprise is built on the Salt open source software project popular with enterprise DevOps and IT operations professionals around the world. SaltStack is an event-driven automation platform used for configuration management, security compliance, and intelligent orchestration of hybrid cloud, network, IoT and application environments at scale.
“SaltStack is poised to take advantage of a significant market opportunity and our partnership with Mercato Partners will help accelerate our success,” said Marc Chenn, SaltStack CEO and co-founder. “In a software-defined world SaltStack automates the management of everything from mission-critical data center infrastructure at scale to distributed networks of IoT devices. Complexity compounded by increasingly sophisticated security threats has created substantial demand for SaltStack intelligent automation to manage and secure the modern infrastructure of digital business.”
SaltStack will use this investment to hire talent across the organization, with specific emphasis on increasing its product and engineering output and extending sales and marketing programs to accelerate customer adoption of SaltStack Enterprise.
SaltStack is used by enterprise IT and DevOps organizations at companies like Tyson Foods, Adobe, Intuit, Dun & Bradstreet, Lyft, LinkedIn, KPMG, Cloudflare, Clemson University, TD Bank, Sterling Talent Solutions and SAP.
Ryan Sanders of Mercato Partners will join the SaltStack board of directors. Mercato Partners has a successful track record of investing in growth companies, including Fusion-IO, Ephesoft, ObservePoint, Control4, CradlePoint, Stance and Domo.
To learn more about SaltStack:
- Learn how enterprise IT organizations use SaltStack intelligent automation
- Read the SaltStack Enterprise white paper
- Try SaltStack software
About Mercato Partners
Founded in 2007, Mercato Partners provides both capital and guidance for companies in their growth stage. Mercato makes equity investments in high-growth technology, branded consumer and digital media companies. The experienced Mercato team of investors, analysts and in-house performance operators combines forces with an extended network of advisors and service providers to accelerate growth. For more information, please visit www.mercatopartners.com
SaltStack® is intelligent automation for a software-defined world. The SaltStack event-driven automation platform delivers threat-aware security compliance, fast and scalable control of any cloud, and configuration management for heterogeneous application environments and data center infrastructure. SaltStack was founded in 2012 to support the Salt open source project and to build and deliver SaltStack Enterprise. For more information, please visit www.saltstack.com