Once known as Luminal, the company based out of Frederick, Maryland has recently changed their name to match the title of their flagship product; a cloud-based operating system known as Fugue. On top of their brand new moniker, the team with Fugue has also secured an additional $20 million in Series C funding. The most recent funding initiative, which was led by New Enterprise Associates (NEA) as well as Core Capital, brings Fugue to a total of $34 million in financial backing to date.
Josh Stella, founder and chief executive officer of Fugue, spoke highly about his company's investors while emphasizing the importance of cloud computing by saying: "We view the cloud as a giant distributed computer, and Fugue is an operating system for the cloud that we’re building from first principles. The significant support we enjoy from NEA, Core Capital, and our other investors is what makes it possible for us to assemble the incredible team needed to tackle hard problems in distributed computing and empower customers to take control, move fast, and save money in the cloud."
Fugue's partners shared Stella's optimism and enthusiasm about the future of cloud computing as well as their role in paving the way for widespread adoption of cloud technology. While their belief in the company is evident through extensive financial backing, their comments serve to underscore their confidence in Fugue.
Harry Weller, representative of NEA, spoke about Fugue's innovative and versatile approach to cloud computing in the 21st century. He was quoted as saying: "Until now enterprises have realized only a fraction of the cloud’s benefits, because increasing adoption has meant greater complexity. To unleash the power of the cloud, management must be simple, automated, and provide a high level of control. Fugue’s radically new approach to managing cloud infrastructure is the missing piece that will redefine the value proposition for businesses and spur the next wave of cloud adoption."
The New Enterprise Association is a venture capital investment firm that specializes in the sectors of technology and healthcare. With a history that dates back more than 30 years, they've played a critical role in the startup and ongoing transformation of numerous businesses around the globe.
Another partner, Core Capital, delivered a statement regarding the potential of cloud computing as well as Fugue's future role in the market. Pascal Luck, Core Capital representative, was quoted as saying: " As their first institutional investor, it’s been remarkable watching them build out a world class team and pursue a bold vision for the cloud. We’re seeing an increasing demand for cloud-native solutions to today’s IT challenges, and Fugue is uniquely positioned to help customers realize the promise of the cloud."
To find out more information about Fugue, please visit their website at fugue.co. Here you'll be able to find detailed technical information, helpful tips, in-depth technical support and even the latest news and advancements. Those who are interested in joining Fugue's early access program can also submit their request via the official website.
Cloud OS Developer Luminal Rebrands Itself as Fugue
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