We are excited to announce that Matchstick Ventures Fund III has completed an investment in Stateless. Stateless offers an API-First software router to enable hybrid, multi-cloud networking.

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Background: For decades, enterprise organizations and their users stored their data in on-premise servers and infrastructure they controlled and managed themselves. Then, the innovation of cloud technology enabled those companies to move to high-quality, low-cost infrastructure partners who hosted their data and provided managed services so that these companies no longer had to do it themselves. In recent years, as more and more enterprises have expanded their data, network and online infrastructure, they have pushed to the multi-cloud, i.e. hosting their data on multiple vendors, allowing them to optimize for risk, cost, and capabilities. 

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As this transformation from on-premise, to cloud, to multi-cloud has progressed, some enterprises have also begun to pull back some of their data to on-premise solutions to manage for costs as well as security. This has become known as the hybrid cloud, and presents specific challenges in terms of network connections and infrastructure. In order to connect to all the data they may need, enterprises need sophisticated connections through private networks. Existing operators have become a bottleneck for these services, because they lack simple yet powerful automated solutions that are easy to scale and can evolve over time. This has created an opportunity for a new player to become the networking layer that powers a hybrid cloud for enterprises and enables network operators to offer these solutions.

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Company Specifics: Stateless offers a software router that enables network operators to quickly and easily enable a hybrid cloud solution to enterprises with a high level of security and performance. Once the network operators have installed Stateless software into their data centers, all of their enterprise customers can connect to both a public cloud and on-premise network environment with just the click of a button. Stateless’ solution automates the entire process in a matter of minutes, not weeks. Their router dramatically reduces the costs of cloud connections and increases revenue and margin for network operators while allowing them to offer a product their customers want, all without any major changes to their infrastructure. With Stateless software, network operators can access a powerful new revenue source and enterprises can find the solution they’ve been looking for without having to build their own infrastructure.

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Stateless’ technology was built with PhD level research and is protected by multiple patents coming out of the University of Colorado, Boulder. The founders have a deep technical and industry background, and we are excited to support their endeavors.