The investment was led by Addition with participation from Foundation Capital and new individual investor Liam Randall.
The company plans to use funds for continuing the support and growth of the Cloud Custodian community, advancing the Stacklet platform, and hiring in engineering, marketing, sales and customer success.
Stacklet exited stealth in August 2020. The company has developed a real-time cloud asset database, added hundreds of policies to its Policy Packs and signed multiple design partners for its cloud governance platform.
Cloud Custodian has been downloaded more than 2 million times since August 2020, is part of the CNCF Sandbox, and has almost 300 active contributors including Amazon, Microsoft and Capital One.
The company has added Randall to its leadership team as vice president of business development. Along with investing in early-stage companies, Randall is a long-time security executive and, most recently, was vice president of software innovation at Capital One.