Index Ventures and Crane invest in future of Serverless Computing
RALEIGH, NC and GENEVA, CH January 22, 2020 — TriggerMesh, a Kubernetes based cloud native integration platform provider, today announced a seed funding round of $3 million led by Index Ventures and Crane Venture Partners. TriggerMesh will use the funds to scale the company and grow the development team that is delivering the industry’s first cloud native integration platform for the serverless era.
TriggerMesh’s platform will enable organizations to build enterprise-grade applications that span multiple cloud and data center environments — addressing a growing pain point as serverless architectures become more prevalent.
TriggerMesh’s platform and serverless cloud bus facilitate application flow orchestration to consume events from any data center application or cloud event source and trigger serverless functions. As cloud-native applications use a greater number of serverless offerings in the cloud, TriggerMesh provides a declarative API and a set of tools to define event flows and functions that compose modern applications. TriggerMesh provides the following features and benefits to today’s modern enterprises:
As part of their initiative to drive legacy and serverless offerings integration, TriggerMesh is also announcing the open source release of the following Knative event sources via GitHub as well as a TriggerMesh Openshift operator:
“Serverless adoption is growing rapidly and is a core component of many digital transformation projects in the enterprise. Because of this there’s a huge need for integration with both Kubernetes-based and legacy applications. TriggerMesh’s team of cloud veterans has the right experience to define the future of cloud native application connectivity and we’re excited to be backing them on their journey,” said Ari Helgason, Principal at Index Ventures, a venture capital firm that has also backed the likes of Confluent, Elastic, and Kong.
“There are huge numbers of disconnected applications that are unable to fully benefit from cloud computing and increased network connectivity,” noted Scott Sage, co-founder, and partner at Crane Venture Partners. “Most companies have some combination of cloud and on-premises applications and with more applications around, often from different vendors, the need for integration has never been greater. We see TriggerMesh’s solution as the ideal fit for this need which made them a compelling investment.”
TriggerMesh is at the intersection of the growing serverless and Integration Platform as a Service (iPaaS) markets. According to Vynz Research, the iPaaS market will grow to $8.6 billion by 2024. Grand View Research reports the global serverless architecture market will reach $19.84 billion by 2025. The Cloud Native Computing Foundation 2018 User Survey reports that more than 50% of organizations today use serverless technology while an additional 20% plan to adopt serverless technology within the next 18 months.
“Serverless computing is based on event flows that tie together cloud services, on-prem resources, and functions,” said TriggerMesh co-founder and Head of Product Sebastien Goasguen. “TriggerMesh’s integration platform provides a way to describe those event flows that can use offerings from any clouds and trigger functions running on any infrastructure from A to Z (Amazon to Zoho).”