Today, we’re getting an additional spark that will accelerate our push into the enterprise market. We are excited to announce an extension of our Series A round which now equals $11.5 million; and welcome Sapphire Ventures, to our list of investors – Baseline Ventures, Bain Capital Ventures, Divergent Ventures, Ignition Partners and Cloud Capital Partners. Sapphire Ventures focuses in expansion-stage financings for innovative software companies looking to scale globally. This is a great match for Iron.io’s revenue-growth current stage.
Business Insider just referred to Sapphire Ventures as “The Best Venture Capital Firm You’ve Never Heard Of” and I couldn’t agree more. In addition, to their phenomenal track record (7 IPO’s since 2014), from the first meeting on I could tell they had one of the most impressive grasps of the emerging modern enterprise tech stack on Sand Hill Road. I’m confident that with the assistance of Sapphire Ventures’ global enterprise network, experience, and expertise in the space, we’ll be able to advance our growth.
With this round of funding, we will continue expanding our job and batch processing feature set, ramp our enterprise go-to-market, and grow our partner ecosystem. By making our solutions even more robust, we’ll continue to provide enterprises control and choice around their job and batch processing workloads while building out a modern microservice architecture as a basis of innovation.
In the coming weeks, you’ll see several exciting announcements from us. This capital infusion puts us in a great position to scale the business and hire stellar talent. Since the beginning of the year, we’ve seen a steady flow of highly-talented candidates coming to us from overfunded Bay Area “unicorns.” The recent (and dramatic) valuation correction of public companies in the SaaS sector has also increased the interest we’ve received. I’m really proud of our team’s ability to build and scale an enterprise-grade offering on a very rational capitalization which will serve us well in the future.
The rocketship is taking off and I’m thrilled to be on it.
— Chad Arimura, CEO and Co-Founder