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RackN Closes Additional Seed-Stage Funding From SK Ventures, Announces Early Availability Of RackN Enterprise SaaS

AUSTIN, Texas, October 24, 2016-- With dozens of companies in its investment portfolio, SK Ventures has joined EVO Venture Partners, Juniper Networks and other prominent investors in helping RackN deliver on its vision in reducing the pain and cost of operating hybrid infrastructure. The additional funding will allow RackN to deliver on customer roadmap items and expand its market awareness.

Eric Norlin, General Partner at SK Ventures and founder of the innovative and widely attended Glue and Defrag conferences commented on his decision to invest in RackN. “Over the last year we’ve been able to get to know the RackN team extremely well. Their vision in how platform, microservice and operational mobility can be achieved across the datacenter and cloud is incredibly disruptive and an accelerant to cutting-edge technology used in production."

“As an early-stage company, raising incremental seed capital is about our on-going search to find strong investment partners” says Rob Hirschfeld, CEO and Co-Founder of RackN “With SK Ventures joining us, we gain a tremendous amount of experience in the industry and knowledge on how to take a company to the next level. We are excited to be part of the SK Ventures family.”

RackN is also announcing though limited availability of a SaaS-based version of RackN Enterprise.. From the platform, interested users will have the opportunity to self-service evaluate platforms like OpenStack, Kubernetes and OpenContrail SDN.

“For security reasons, our customers want to run RackN Enterprise internally and we will continue to help them with that. However, another type of customer wishes to consume our software through a easy-to-use SaaS model.”, says Dan Choquette, COO and Co-Founder of RackN. “For our customers who are developing or implementing their hybrid cloud and infrastructure strategy and chose to leverage OpenStack, Kubernetes and OpenContrail on Google and AWS, we want to provide them with a SaaS-based painless experience.” For RackN Enterprise SaaS, pricing begins at $5,000. To get started, please contact info(at)rackn.com.

About RackN

RackN provides a composable, template-driven, self-service software platform for automating multi-cloud and hybrid infrastructure lifecycle management. Our software accelerates cloud migrations, reduces operational sprawl and guarantees repeatable workload deployment and upgrades across any platform. CIOs benefit by mitigating platform adoption risk, vendor lock-in and operational dysfunction and realize a decrease in CAPEX and OPEX spending.

RackN removes the trial-and-error approach operators take for complex cross-cloud and infrastructure deployment and management.

For more information, please go to http://www.rackn.com or follow us on Twitter @rackngo

For investor relations, please go to http://www.rackn.com/investors or contact rob(at)rackn.com

About SK Ventures

SK Ventures is a seed-stage firm that invests in entrepreneurs that are science-driven and deep experts in their start-up’s domain. Run by Paul Kedrosky and Eric Norlin, SK Ventures focuses on providing practical guidance, valuable connections, a pathway to future rounds and even (gasp!) profitability.

For more information, please go to http://www.skvcap.com and follow us on Twitter @defrag and @pkedrosky.


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