CloudBolt, a startup headquartered in Bethesda, Maryland specializing in hybrid cloud environment management, today revealed a $35 million Series B funding round. This investment was structured as $15 million in equity and $20 million in debt financing.

Insight Partners contributed the equity portion of the funding, while Hercules Capital and Bridge Bank provided the venture debt. According to data from Crunchbase, the company’s total funding now surpasses $61 million, encompassing both equity and debt.

According to CEO Jeff Kukowski, his company assists clients with cloud and DevOps administration, focusing on areas like cost management, regulatory adherence, and security protocols. “We empower [our clients] to leverage the reality that most organizations currently operate in hybrid, multi-cloud, and/or multi-tool environments. This allows them to more easily benefit from the ongoing innovation occurring across the industry,” he explained.

Kukowski believes that the transition to cloud and DevOps, initially intended to streamline operations, has inadvertently introduced new complexities. The solutions his company offers are designed to help organizations mitigate these added complexities by providing a means to automate, secure, and optimize their workloads, irrespective of the tools or infrastructure approaches they employ.

The funding round was finalized at the close of the previous quarter and has been utilized to support a couple of strategic acquisitions – Kumolus and SovLabs – aimed at accelerating growth and enhancing the company’s product roadmap. Kumolus, established in 2011 and having secured $1.7 million in funding based on Crunchbase information, significantly expands CloudBolt’s capabilities to manage both on-premises and public cloud environments.

SovLabs was an early-stage company focused on developing a framework to extend automation capabilities within VMware environments.

CloudBolt currently employs 170 individuals. While Mr. Kukowski refrained from specifying the exact number of new hires anticipated within the next year, he emphasized his commitment to diversity, viewing it through three key lenses.

“Firstly, we prioritize ongoing education, with regular company-wide sessions dedicated to inclusion, social justice, and diversity. We also incorporate these principles into our recruitment strategies. Furthermore, we have a dedicated internal committee consistently examining these issues, not only for discussion but also for dedicated investment of time and resources,” he stated.

Kukowski noted that the shift to remote work prompted by COVID-19 has broadened the company’s hiring reach, but he remains enthusiastic about resuming in-person interactions with both employees and customers, considering it a fundamental aspect of the company’s culture.

Founded in 2012, CloudBolt currently serves approximately 200 customers. Kukowski reported that the company is experiencing year-over-year growth between 40% and 50%, although he did not disclose specific revenue figures.