Weaveworks, a startup focusing on cloud native development tooling, announced today on LinkedIn that it would be shutting down, a sad day for any startup.

“I am very sad to announce — officially — that Weaveworks will be closing its doors and shutting down commercial operations. Customers and partners will be working with a trustee that is financial we will announce soon,” CEO Alexis Richardson, whom helped start the organization in 2014, had written.

The business went to the problem of irregular product sales, a problem that is big startups, but especially for ones in Weavework’s position. When it launched in 2014, cloud native was barely on anyone’s lips. Kubernetes wouldn’t launch until the year that is following in addition they had been early to advertise.

But as time passes, they encountered competition that is growing companies like Harness Labs and CircleCI, which were much better capitalized. Richardson says they were running short on capital and a chance to be acquired fell through, he said.

With while they saw double-digit growth in 2023, sales were “lumpy” and few leads, the business had choice that is little to take the step of shutting down. Richardson apologized for the ongoing company’s predicament within the LinkedIn post. “I’m able to just apologize to any or all because of this turn that is difficult. I could say that this should not have happened, but I know that we are not alone in this market. Bigger vessels have gone astray,” he wrote.CrunchbaseWeaveworks raised a amount that is substantial of on the way, over $61 million, per

, but its final round ended up being $36 million at the conclusion of 2020. Once the economic climate switched in 2022, as Richardson described, the marketplace got harsh for most startups nowadays. Their is the victim that is latest.

The company leaves behind some source that is open that he states will stay, nevertheless the information on exactly how that may take place aren’t readily available however. “The tale will not end right here — our source that is open software used everywhere. I am working with several large organizations to make sure CNCF Flux is in the state that is healthiest. More about that quickly,” he published.(*)