Platform9 targets global growth with $25m funding
Software-as-a-Service-managed hybrid cloud solution provider, Platform9, is aiming for global expansion following a $25 million Series D round, reports Jane Connolly.
The round, led by NGP Capital with participation from Mubadala Ventures and all the company’s existing investors – Redpoint Ventures, Menlo Ventures, Canvas Ventures and HPE Pathfinder – brings the company’s total raised to $61.5 million.
Rohini Chakravarthy, partner at NGP Capital, joins Platform9’s board of directors. The company will be expanding its sales, product and marketing teams and working on new product capabilities.
The firm’s solution offers the industry’s only SaaS-managed hybrid cloud solution that delivers fully automated day-two operations with 99.9% SLA for Kubernetes, bare-metal and VM-based environments running on-premises, in public clouds or at the edge.
Platform9 is built on open source cloud frameworks, Kubernetes and OpenStack, delivered as a service, with the aim of helping companies become more agile and to simplify deployments.
The firm helps companies to easily run cloud-native infrastructure at scale, mitigating the complexities faced when enterprises try to leverage open source technologies on top of their existing infrastructure.
“Our Cloud Control Plane manages the infrastructure for you – including built-in monitoring, upgrades, disaster recovery and more,” says Sirish Raghuram, CEO and co-founder of Platform9. “This enables customers to focus on their business and adopt cloud-native in a way that’s future-proof for any environment of their choosing, without requiring additional headcount or heavy-lifting from IT Ops team.”
The Series D funding round came on the back of significant momentum – Platform9 has seen revenue growth of 130% in the last year, with net revenue retention of 124%.