Cutover, a work orchestration platform to improve operational resilience, has received $17m in its Series A round from Barclays and Index Ventures.
The company hopes the fresh capital boost will increase its development capability to expand into new verticals. Furthermore, the company will use the funds to help with migrating to a hybrid cloud model, having wider digital transformation, automating and evolving operational resilience practices and managing ongoing tech change without failures.
Cutover is aimed at helping humans and technology better work together. Its technology helps financial institutions to manage their big technology changes, such as moving to a hybrid cloud model, data centre migration and wider transformation programmes.
Its platform can also help with continuous transformation to plan, execute and analyse thousands of technology changes.
Barclays CTO Janhavi Rao 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.”
The FinTech company also helps financial institutions to improve their operational resilience practices to respond, recover and test resilience.
Cutover CEO Ky Nichol 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.”
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