Why VCs Have Invested More Than $200M in Container Tech
The evolving market for application containers isn't just about developer adoption anymore; it's now very much about investors, too.
The week of May 9, in particular, highlights the intense interest that venture capitalists (VCs) have in containers and the potential to profit from the new approach to building, deploying and managing applications at scale.
Over the course of last week, three container vendors raised a combined $63 million in new capital. The biggest funding of the week came from CoreOS, which raised a $28 million round Series B funds. Backers include GV (formerly Google Ventures), Accel, Fuel Capital, Kleiner Perkins Caufield & Byers and Y Combinator Continuity Fund. Total funding to date for CoreOS—which emerged in the last year to become one of the primary rivals for Docker Inc.—now stands at $48 million.
Rancher Labs, co-founded by executives that had previously founded Cloud.com, raised $20 million in Series B financing. Investors included GRC SinoGreen, Mayfield and Nexus Venture Partners. Total funding to date for Rancher Labs now stands at $30 million. The Rancher platform is a container management and deployment system that uses the Docker container engine.
NEWS ANALYSIS: Last week alone, investors—aiming to profit from the new approach to building, deploying and managing apps—poured $63M into container vendors.
The third piece of container funding last week came from Weaveworks, which raised $15 million in Series B financing. VCs included GV and Accel. Total funding to date for Weaveworks, which is building a platform for container and microservices networking and visibility, now stands at $20 million