Cloudbolt Software to Acquire Kumolus, a Fast-Growing Innovator of Cloud Cost Management, Security, and Governance Solutions
CloudBolt Software, the enterprise leader in cloud management and integration solutions, announced it has entered into a definitive agreement to acquire Kumolus, headquartered in Melbourne, Australia. The acquisition strengthens CloudBolt’s cloud management platform with a rich set of cost management, security, and governance capabilities while positioning the company for rapid growth in APAC. The acquisition comes on the heels of CloudBolt’s SovLabs acquisition and is subject to customary closing and regulatory approvals.
The addition of Kumolus to CloudBolt aligns to the growing needs that enterprises will demand as they advance the adoption of hybrid cloud. According to Flexera’s 2020 State of the Cloud Report, the top three challenges include security (83 percent of enterprises), managing cloud spend (82 percent), and governance (79 percent). In addition, Gartner states that by 2023, 90% of enterprises will make governance their primary requirement when selecting cloud management tooling, up from less than 30% in 2020.
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Founded in 2012, Kumolus is a SaaS-based cloud management platform (CMP) that provides deep day-2 operations and continuous optimization for AWS and Azure environments. Today, enterprise IT teams rely on Kumolus to discover and visualize their cloud environments, automate cost management, and continuously enforce security posture and compliance. With Kumolus, enterprises have been able to reduce cloud spend by up to 60% while meeting regulatory compliance standards like CIS and PCI-DSS.
As one of the only worldwide CMPs to achieve AWS Cloud Management Tools Competency Status, Kumolus is recognized as an AWS Partner Network (APN) member, which provides a key solution to enable IT leaders with the agility, scale, resiliency and cost savings necessary for a competitive cloud strategy, as well as providing cloud operations and governance best practices to make efficient use of cloud resources across an organization. The company has customers in Australia, India, and Singapore and a rich ecosystem of technology, consulting, and MSP partners including NEC Australia, Advent One, and many others.
“As IT, security, and development organizations aggressively invest in hybrid cloud, the need for improved visibility, cost control, and security is paramount,” said Jeff Kukowski, chief executive officer of CloudBolt Software. “As a SaaS-based solution, Kumolus strengthens CloudBolt’s long-standing mission of delivering rapid time-to-value to customers, and we’ll be in an even stronger place with Kumolus’ visualization, cost optimization, and governance capabilities. Moreover, as we grow our customer base beyond North America and Europe, we look forward to the momentum and partners that Kumolus has built to accelerate our growth worldwide.”
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“CloudBolt continues to extend its leadership position with this acquisition by providing enterprises with the most innovative cost management, security, and governance capabilities for AWS and Azure,” said Josh McGrath, chief executive officer and co-founder of Kumolus. “Kumolus’ and CloudBolt’s market-leading automation, orchestration, and provisioning capabilities create a powerful combination to help our joint customers and prospects worldwide better meet their hybrid cloud needs.”
“The Kumolus team has worked exceptionally hard over the past few years to bring a leading SaaS-based cloud management platform to market, achieve AWS technical competency, and we’re thrilled that CloudBolt has recognized our leadership,” said Michael Salleo, chief technology officer and co-founder of Kumolus. “We’re excited to join forces with CloudBolt and accelerate delivery of our solutions to customers globally.”