Fugue composes $41m series D

Maryland Venture Fund and Future Fund have contributed the series D round, which pushed Fugue’s total funding to more than $75m.

Fugue, a US-based developer of software to manage cloud infrastructure, has received $41m in series D capital from backers including Maryland state-owned, early-stage vehicle Maryland Venture Fund.

Future Fund, the sovereign wealth fund of Australia, also participated in the round, which was led by New Enterprise Associates (NEA).

Founded in 2012 as Luminal, Fugue’s software enables dynamic management of cloud infrastructure, continuous enforcement of regulatory compliance and team collaboration. The money will go towards accelerated product development.

Fugue has now raised more than $75m in total funding. Maryland Venture Fund previously contributed to a $3.8m series A round in April 2014, alongside Core Capital Partners, NEA and other unnamed backers.

NEA led a $10m series B round in August 2014 that also featured Maryland Venture Fund and Core Capital. In January 2016, NEA and Core Capital supplied $20m in series C funding.

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