US-based cloud management technology developer Tetrate received $40m yesterday in a series B round featuring corporate investors Dell, Intel, NTT and Samsung.
Sapphire Ventures, a venture capital firm spun off by software supplier SAP, led the round, which included 8VC and Scale Venture Partners.
Dell Technologies Capital, Intel Capital, NTT Venture Capital and Samsung Next represented computing equipment producer Dell, chipmaker Intel, telecommunications firm NTT and electronics manufacturer Samsung respectively.
Founded in 2018, Tetrate provides enterprise app management software that caters to hybrid cloud application infrastructure. Its lead product, Tetrate Service Bridge, helps organisations oversee app traffic and security in multicloud settings.
The company emerged from stealth wirh a $12.5m series A round in early 2019 led by Dell Technologies Capital and backed by Intel Capital, Samsung Next, 8VC, Rain Capital and angel investors Guido Appenzeller, BV Jagadeesh, Pankaj Patel and Shiva Rajaraman.
