Silk Secures $55 Million in Series B Financing Round

Silk Technologies, Inc. has completed an oversubscribed series B round of financing at a total of $55 million.

S Capital VC led the investment round with participation from existing investors including Sequoia Capital, Pitango, Globespan Capital Partners, Ibex Investors, and Vintage Investment Partners and new investors including Clal Insurance, Bank HaPoalim, Meitav Dash Investments Ltd and Menora Mivtachim Group.

This investment is a testimonial to Silk’s exponential growth, as demand for cloud environments rises rapidly in the wake of the Covid-19 pandemic. It will allow Silk to accelerate its sales and marketing efforts and expand engineering development.

The Silk Platform enables enterprises to migrate their mission critical applications to the cloud seamlessly, while increasing performance over on-prem environments. It makes cloud environments run 10x faster and the entire application stack more resilient to any infrastructure hiccups or malfunctions. It sits neatly between the cloud infrastructure and the customer’s database. It is a smart, resilient, yet invisible, layer that transforms the database into a cloud powerhouse by allowing it to optimize data without any change to the database or application. Amongst firm’s customers are leaders in their fields such as eToro and Payoneer.

“The cloud vendors are now beginning the fight over customers’ databases and other mission-critical ‘crown jewels’. To win this fight, they need to guarantee that customers will meet their own end users’ SLAs, by enabling prime scalability and performance of their mission-critical applications,” says Dani Golan, CEO. “Having this capital allows us to bring the vision of accelerated cloud adoption to a wider audience.”

The series B financing comes as Silk continues to expand its market reach in the public cloud. To bring the power of Silk to this audience, the company has partnered with the major cloud vendors. It is a Microsoft Azure IP co-sell incentivized partner, an AWS ISV technology partner and a GCP partner.

“As companies increasingly move their business-critical workloads to the cloud, it is more important than ever that their cloud infrastructure offer them the performance these workloads demand,” said Aya Peterburg, founder and managing partner, S Capital. “The Silk Platform is perfectly poised to enable the cloud vendors to meet this demand and deliver on their promise of fast and easy cloud.”