Tetrate Raises $40 million Series

`1Introduction

Tetrate series sapphire has secured $40 million to commercialize an open-source networking solution that simplifies sharing data among various applications.

The investment, which Sapphire Ventures managed, emphasizes the significance of the Istio project and how essential cross-platform data-sharing services have become.

With previous investors, Dell Technologies Capital, Intel Capital, 8VC, and Samsung NEXT, new investors, Scale Venture Partners, and NTTVC joined Sapphire.

Tetrate, Started by Istio Founders, Raises $40 Million for App Networking Project

SAN FRANCISCO—(BUSINESS WIRE)— Tetrate revealed today that its Series B fundraising round, which Sapphire Ventures spearheaded, netted them $40 million.

Participating in the round were other new investors, Scale Venture Partners and NTTVC, and seasoned investors Dell Technologies Capital, Intel Capital, 8VC, and Samsung NEXT.

Tetrate Service Bridge, the exclusive networking platform for hybrid cloud apps, will use the Series B funding to further its advanced features.

An Istio-based platform that makes it simpler to use the application service mesh will be supported by funding as well. Tetrate will also launch go-to-market teams in Europe and Asia and expand its go-to-market initiatives in the Americas.

Istio and gRPC were co-developed by Tetrate’s CEO and co-founder, Varun Talwar. Along with Jeyappragash (JJ) Jeyakeerthi, the former head of Twitter’s Cloud Infrastructure Management Platform, he founded Tetrate.

Jai Das, President and Partner of Sapphire Ventures, will join Tetrate’s Board of Directors. Jai joining our board and Sapphire supporting us makes us very happy, added Talwar.

Jai’s expertise will be crucial to advancing Tetrate’s development and success. Being the culmination of a record year in which Tetrate doubled its team and saw a 10x rise in customers and income, Talwar hailed the fundraising round as a “huge milestone for Tetrate.”

According to Das, Sapphire Ventures is thrilled to support Tetrate, the organisation that created enterprise Istio and Envoy. Istio is essential for managing microservices-based applications running on containers as the microservices revolution gains momentum.

Tetrate is prepared to bring Istio into the mainstream for businesses by making it simple to manage and deploy on multi-cloud and hybrid cloud environments, according to both the product and the background of the founding team.

Tetrate’s Istio-based service mesh technology, which helps route traffic across microservices, offer visibility, and improve security, enables the background processing necessary for the applications we use every day.

Customers Modernize for Operational Efficiency

As businesses and governments integrate microservices architecture throughout their systems, the usage of a service mesh anticipates to climb gradually. Clients have used Tetrate’s products in several on-premises and cloud deployments to address critical infrastructure needs.

US Department of Defense (DoD)

“To help secure and efficiently run Platform One with Istio, we collaborated with Tetrate. Platform One integrates with the DoD’s most crucial systems.

The Tetrate team has supplied top-notch knowledge, trained our staff, examined the architecture and configurations of our platform, and assisted with upgrades and troubleshooting.

We rely on them and their platform for a crucial layer of our stack and receive outstanding production support from them. – Nicolas Chaillan, US Air Force Chief Software Officer

Rapid Expansion and Service Mesh Leadership

Tetrate, founded in 2018, was able to swiftly grow its open source leadership and deepen its contributions to the open source community thanks to a $12.5 million Series A fundraising round in March 2019.

And also, Tetrate is currently the second-largest donor to the Istio open-source project, behind Envoy Proxy.

Tetrate series sapphire is the only platform-neutral and cloud-neutral company to provide commercial support for Istio. It is also developing a service mesh platform based on Istio and Envoy.

Customers, including Fortune 200 financial services, telco, retail, media, and US federal government organizations, have adopted it.

Tetrate and NIST collaborated to develop service mesh security standards and implement Next Generation Access Control, NIST’s authorization framework.

FICO

“Tetrate has allowed end-to-end encryption and PCI compliance for our Amazon EKS workloads through Istio and their platform and has also helped enhance our operational efficiency.” Jeet Kaul, VP of Engineering at FICO

Square

“Best-in-class open source service mesh technologies Envoy and Istio, which are quickly emerging as de facto standards, constitute a significant part of Square’s infrastructure.

We rely on these to deliver a high level of reliability in load distribution, service discovery, and routing, with market-leading security features, both in the data center (for Square’s Seller business) and in the cloud (for CashApp). These advantages have made possible by our tight collaboration with Tetrate. — Manik Surtani, Square’s Engineering Director