Cutover, a cloud-enabled work orchestration and observability platform, enabling organizations to innovate at pace with operational resilience, announced today that Barclays has joined Index Ventures in its $17 Million Series A funding round.
With many leading global banks and wider financial services firms already on board, this new wave of funding will increase Cutover’s development capability fourfold while supporting the company’s rapid expansion into new verticals.
The investment will also support Cutover’s offering to solve some of the most fundamental challenges for enterprise such as migrating to a hybrid cloud model, wider digital transformation, automating and evolving operational resilience practices and managing ongoing tech change without failures.
Janhavi Rao, Chief Technology Officer, Barclays, said: “As an alumnus of the Barclays accelerator programme, we have seen first-hand the evolution of the Cutover platform. We are pleased to be deepening our relationship with Cutover as we continue to deliver our digital transformation with added pace and resilience.”
Ky Nichol, Chief Executive Officer, Cutover, said: “This investment from Barclays supports our mission to accelerate enterprise transformation with operational resilience. We’re focused on building our product development, client teams, and prototyping exciting new areas of Cutover in partnership with clients. Our ultimate aim is to empower teams to plan, orchestrate and analyze complex work faster, smarter and with greater visibility.”
Cutover is leading the way in a new emerging category of tools that are helping humans and machines to collaborate more effectively. With Cutover, teams can improve processes and reduce the risk of failure across a variety of use cases for financial institutions including:
- ● Managing big technology changes relating to a series of critical events including migration to a hybrid cloud model, data center migration and wider transformation programs.
- ● Continuous transformation to plan, execute and analyze hundreds of thousands of technology changes per year for functions within an enterprise, and providing cross- functional visibility, oversight and management of change.
- ● Operational resilience practices to respond, recover and test resilience into a capability and recover quickly when things go wrong.
- ● Operational readiness which gives teams dynamic process orchestration for critical sets of work such as market readiness, IPO’s and system validation.