Economic gravity of Cloud Computing is Burning up the Industry

Economic gravity of Cloud Computing is Burning up the Industry

Part of our January 2021 Cloud Forecast

Out with the old, in with the new. Companies are investing in the cloud at a tenfold compared to years prior. Cloud-native, relational databases are in this year, and, probably for good reason.

Cloud migration, simply put, is essential to a business’s survival. In the initial phases of the pandemic, IT leaders were skeptical of accelerating their legacy platforms; however, over a quarter are now saying it’s the only way to go. To put it simply, as more businesses transition to the cloud, more investments in cloud computing, hence the need for more funding.

Cost optimization is broad terminology, and while we’ve seen accelerated movements of digital infrastructure, it is precedent to modern society. The life-and-shift migration approach simply isn’t cutting it anymore-hybrid cloud is the new status quo. Monthly subscriptions and low-entry barriers seem to be the low-hanging fruit aiding in the adoption process and are top of mind for the buyer and software vendor. Nowadays, paying for cloud computing services is as simple as paying a magazine subscription. Cloud providers continue to up their support by enhancing their native cost optimization capabilities, and it’s not going unnoticed. Higher-quality analytics will in turn help maximize business performance and will allow for multi-cloud management consistency.

We’ve witnessed several different companies announce their funding plans for 2021, and we want you to be the first to hear them. Lacework, an end-to-end cloud security startup, recently announced their plan to allocate $525 million in funding, after a surge in demand for automated cloud security solutions prompted increased income. Additionally, another cloud security vendor, iBoss, amassed a $145 million funding round to provide network security within the cloud. And another example, Snowflake, a data platform that provides data warehouse-as-a-service, raised $479 million to enable a diverse network of workloads.

 

Author: Eric Sanders, Managing Partner

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