platform9, which bills itself as an “open distributed cloud company,” announced today that it has closed a $26 million financing round led by Celesta Capital with participation from Cota Capital, NGP Capital and other investors. CEO Bhaskar Gorti said the new funds will be used to advance Platform9’s go-to-market strategy and product research and development, particularly as the company looks to larger enterprise implementations.
Platform9 was founded by Sirish Raghuram, Madhura Maskasky, Bich Le and Roopak Parikh who worked together in the early years to develop several virtualization products. Their hypothesis was that open source ecosystems would grow to offer a wide range of offerings in the cloud, but that companies needed an easier way to operationalize them. A youngest The McKinsey report suggests that less than 25% of cloud initiatives are meeting their time-to-market and cost goals.
Platform9 purportedly delivers this by enabling developers to run Kubernetes — the open-source platform for managing standalone workloads — and other cloud-native technologies on distributed cloud services. It works with existing infrastructure to create cloud-native clusters that are equipped with monitoring capabilities and integrate with third-party tools. Here, “cluster” refers to a set of work machines, called nodes, that run applications “containerized” with the dependencies and services needed for their execution.
With Platform9, developers can install, operate, and maintain clusters remotely through a software-as-a-service management plane. Its features include automated security patching, on-demand upgrades and “self-healing” clusters, as well as support for multiple versions and audit logging.
Platform9’s service operates 40,000 nodes across private, public and edge clouds, according to Gorti.
“To create a more open cloud experience, Platform9 co-founders explored emerging infrastructure open source works including Apache CloudStack, OpenStack, LXDand Kubernetes,” Gorti continued. “ThThey were inspired by the agility that public clouds brought to developers, but wanted to challenge the assumption that this could only be achieved by confining enterprises to a walled garden.”
While Gorti declined to discuss revenue, he said Platform9 — which has $100 million in funding to date — currently has over 60 enterprise customers and 120 employees. The business grew 100% from 2021 to 2022, while net revenue retention, which calculates total revenue minus revenue churn (e.g., contract expiry, cancellations, and downgrades), grew 132%.
In addition to the funding, Mountain View-based Platform9 announced two appointments to its executive team: Emilia A’Bell and Ravi Jacob. A’Bell comes from senior sales positions at Oracle and Nokia, while Jacob was previously CVP at Intel.
Platform9 raises $26M to help manage distributed cloud clusters – TechCrunch Source link Platform9 raises $26M to help manage distributed cloud clusters – TechCrunch