Platform9, a provider of a SaaS-managed hybrid cloud, is receiving $25 million in Series D funding, enabling the company to continue expanding its global salesforce, product, and marketing teams, as well as continue delivering new capabilities for cloud-native hybrid cloud infrastructure management.
This round was led by NGP Capital, with participation from Mubadala Ventures and all existing investors (Redpoint Ventures, Menlo Ventures, Canvas Ventures, and HPE Pathfinder). Rohini Chakravarthy, Partner at NGP Capital, joins Platform9’s board of directors with this round of financing. This latest amount brings the total amount raised by the company to $61.5 million.
Platform9 offers a SaaS-managed Hybrid Cloud solution that delivers fully automated day-2 operations with 99.9 percent SLA for Kubernetes, bare-metal, and VM-based environments.
These can run on-premises, in public clouds, or at the edge. Built on open source cloud frameworks – Kubernetes and OpenStack – delivered as a service, Platform9 enables large enterprises to easily run cloud-native infrastructure at scale without the operational pain.
“Simplifying the operational burden of delivering cloud-native infrastructure at scale across any environment is a key consideration for organizations going through digital transformation. They are looking to leverage open-source modern technologies on top of their existing infrastructure and multi-cloud deployments, without crumbling under the complexity of managing technologies such as Kubernetes, monitoring, service-mesh, and more,” said Sirish Raghuram, CEO and co-founder of Platform9.
The funding round was driven by momentum with enterprise customers modernizing their hybrid cloud environments, driving strong year over year revenue growth of 156%.
“Platform9 continues to win for enterprises that value ease of use, time to market, interoperability, and greater cost efficiencies. We’re excited to further build upon the momentum we are seeing in the market by investing in our world-class teams and partners around the world,” said Raghuram.
For more information about this news, visit https://platform9.com.