Stacklet, an Arlington, VA-based developer of the cloud governance platform based on Cloud Custodian, closed $18m Series A funding.

The round was led by Addition with participation from Foundation Capital and new individual investor Liam Randall.

The company intends to use the funds for continuing the support and growth of the Cloud Custodian community, advancing the Stacklet platform, and hiring in engineering, marketing, sales and customer success.

Exited stealth in August 2020, Stacklet was founded by the creator and lead maintainer of Cloud Custodian, an open source cloud native security and governance project used by thousands of global brands, to provide the commercial cloud governance platform that accelerates how the Global 2000 manages their security, asset visibility, operations, and cost optimization policies in the cloud.

Led by Travis Stanfield, co-founder and CEO, the company has developed a real-time cloud asset database, added hundreds of policies to its Policy Packs and signed multiple design partners for its cloud governance platform. Cloud Custodian has been downloaded more than 2 million times since August 2020, is part of the CNCF Sandbox, and has almost 300 active contributors including Amazon, Microsoft and Capital One.