Cutover has recently announced a Series A funding round worth $17 million led by Barclays. Apart from Barclays, Index Ventures also have invested in the cloud-enabled work orchestration & observability platform. Cutover helps several organizations in rapidly innovating and maintaining the ability to continuously provide business services amid adverse operational events.
The recent funding round will result in a 4x increase in Cutover’s developmental capability as well as support its continued expansion into other verticals. Various wider financial services firms and leading global banks are on board the funding round. Additionally, the funding will also enhance Cutover’s business offerings for solving the most fundamental challenges faced by enterprises. These challenges include efficient management of ongoing technological changes, evolvement and automation operational resilience practices, wider digital transformation, and migration to the hybrid cloud model.
According to Janhavi Rao, Barclays’ Chief Technology Officer, the company appreciates the rising evolution of Cutover and is excited to deepen the relationship through the recent round to ensure digital transformation with added resilience and pace.
Cutover’s CEO, Ky Nichol, also stated that the investment from Barclays will aid the company in accelerating the enterprise transformation as well as support its teams to efficiently analyze, orchestrate, and plan complex works with a greater visibility.
The company is developing an emerging category of tools that will effectively facilitate collaboration between machines and humans. Through this, the teams can curb the risks of failure as well as improve processes across a wide variety of use cases for the financial institutions. These use cases include:
- Managing technological changes in organizations relating to several critical events such as migration to hybrid cloud mode, wider transformation programs, and data center migration.
- Rapid transformation in analyzing, executing, and planning various technological changes within an enterprise and delivery of cross-functional visibility and management of organizational changes.
- Practices for managing operational resilience to test, recover, and respond resilience and quickly recover from mistakes.
- Operational readiness with dynamic process orchestration in performing critical work sets such as system validation, IPOs, and market readiness.