OpsCompass Raises $6.78M in Series A Round of Financing

By Cloud Computing Outlook | Wednesday, May 13, 2020

OpsCompass plans to use the newly raised capital to accelerate product development, take advantage of new trends and market demands, and scale go-to-market capabilities

FREMONT, CA: OpsCompass, the cloud operations guide software company, in association with Elsewhere Partners raised $6.78 million in Series A round of financing for the multi-cloud governance and compliance company. Elsewhere Partners led the round of funding with participation from Invest Nebraska, M25, Dundee Venture Capital, Nelnet, and Nebraska Angels. OpsCompass plans to use the investment to accelerate product development, take advantage of new trends and market demands, and scale go-to-market capabilities.

"Our team has monitored this industry for some time and seen a significant change in market demand for cloud governance and compliance," said Sloane Child, vice president at Elsewhere Partners. "Moreover, we have been following leaders in the space who are delivering inventive, cloud-native solutions to enterprise clients. OpsCompass clearly understands this market and has already established impressive traction by landing numerous marquee customers."

OpsCompass acts as a cloud-operations guide for modern-day organizations, which seeks to protect the advantages of cloud without sacrificing security, compliance, or their ability to manage costs. The SaaS solution of OpsCompass provides the right information at the right time with actionable insights into what to do next. The SaaS solution is as flexible as cloud, simple to deploy, and intuitive to use. OpsCompass, with its compliance, security, and cost management, empowers customers to fold cloud operations into existing processes with existing personnel.

"We've seen significant interest in our product from security services, cloud management providers, and the leading cloud services themselves," added Manny Quevedo, CEO of OpsCompass. "Our clients are moving critical workloads into multi-cloud environments and require enterprise-grade solutions reinforced by ongoing R&D and clear product evolution. The team at Elsewhere Partners understands this demanding pace and will provide invaluable expertise."

As a result of the investment, Kevin Cunningham, the Operating advisor of Elsewhere, will join the OPsCompass Board of Directors. Cunningham is the former president and chief strategy officer of SailPoint Technologies, a company he co-founded in 2005. Josh Stephens, Elsewhere's Chief Technology Officer, will also join the OpsCompass operating advisory team. Stephens is the former vice president of technology and head geek at SolarWinds, one of the industry's leading technology monitoring companies.