HyperGrid and iQuate join to create CloudSphere and secure $15m to support the new venture

Cloud management and governance platform HyperGrid and agentless discovery and application mapping company iQuate have joined together to create CloudSphere.

The new company will offer enterprise and cloud service provider customers with governance for migration planning, security posture, identity, compliance and cost management across multiple public clouds.

To support the creation of the new platform, the company has received $15m from an investment round led by Atlantic Bridge Capital. As part of the deal, Atlantic Bridge Capital managing partner Kevin Dillion has become the executive board chair at CloudSphere.

CloudSphere claims to be the sole cloud management platform leveraging application discovery and dependency mapping to create data sets which group cloud resources by application. The service improves cloud migration planning, cloud cost management and cloud security posture management.

The product suite of CloudSphere include cloud migration planning, risk migration, cloud cost management, real-time budget alerting, cloud security posture management and identity and access management.

HyperGrid founder and CloudSphere board director Manoj Nair said, “Early on we recognized the common vision of our two companies, and the natural alignment of the product lines extended across our entire portfolio.

“HyperGrid was recognized as a visionary in the Cloud Management Platform category and built a unique position combining stand-alone cloud management and cloud security posture management capabilities for cloud governance. The complementary product lines allow CloudSphere to quickly round out a comprehensive cloud governance platform for our customers that delivers a truly differentiated, application-centric approach.”

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