Platform9 offers a SaaS management plane that lets developers install, operate, and maintain Kubernetes and other cloud‑native clusters on existing infrastructure. The platform creates cloud‑native clusters with monitoring and integrations to third‑party tools and supports private, public and edge clouds. Its feature set includes automated security patching, on‑demand upgrades, self‑healing clusters, multiversion support, and audit logging. The service currently powers 40,000 nodes and serves over 60 enterprise customers, supported by about 120 employees. Platform9 grew 100% from 2021 to 2022 and reported net revenue retention of 132%; funding to date stands at $100 million. CEO Bhaskar Gorti said the new capital will be used to accelerate go‑to‑market efforts and product R&D to win larger‑scale enterprise deployments. Platform9 delivers a SaaS Managed Kubernetes platform that enables cloud-native workloads to run on private, edge, and hybrid infrastructure with automated upgrades, security patches, monitoring, and guaranteed SLAs. The company positions its managed Kubernetes product as a solution for complex 5G infrastructure rollouts, hybrid cloud containers-as-a-service, and edge use cases in retail, media, and entertainment. Platform9 reported strong fiscal 2020 operating momentum, including 145% ARR growth, a 340% increase in customer base, 363% growth in total contract value (TCV), 114% net revenue retention, an NPS of 71, and 99% customer satisfaction. Management says the company will use new capital to simplify the cloud-native journey for developers and platform engineers and expand its SaaS Managed Kubernetes offerings to more enterprises. Headquartered in Mountain View, CA, Platform9 cites customers such as Kingfisher Retail, Redfin, Cloudera, Yext, and Juniper Networks. Platform9 offers a SaaS-based, fully managed hybrid cloud platform that runs on open-source tools such as Kubernetes and OpenStack. Its managed services are designed to simplify deployment and lifecycle management of cloud-native technologies and it also supports the serverless framework Fission. The company reported revenue growth of 130% year-over-year, bookings up 156%, and new revenue retention of 124%. Platform9 plans to use the new capital to expand its sales, product, and marketing teams and to invest in developing its core Kubernetes products, including Managed Prometheus, Managed Istio, and kubevirt. The company remains committed to OpenStack, stating its OpenStack business is on pace to grow over 100% this year. It notes that kubevirt is not yet production-ready and is guiding customers requiring production VM support to choose OpenStack. Platform9 offers an open source-as-a-service platform that helps enterprises deploy, manage and maintain hybrid clouds using frameworks such as Kubernetes, OpenStack and Fission. The company serves customers including Cadence Design, Autodesk, Blue Cross Blue Shield and Sony PlayStation. Founded in 2013 and led by CEO Sirish Raghuram, Platform9 is based in Sunnyvale, California. It raised $22M in a Series C and has raised $36.5M to date. Proceeds from the Series C will be used to scale its global salesforce, expand product and marketing teams, and boost engineering investments. The company’s focus remains on enabling hybrid cloud operations through managed open-source technologies. Platform9 offers a managed OpenStack SaaS that lets customers deploy and operate private clouds on their existing servers by installing an agent and pairing servers to a Platform9 account. The service imports existing workloads where possible and manages compute, storage, and networking while exposing admin controls for quotas and roles. It supports Linux servers running KVM on CentOS, Ubuntu, and RHEL, as well as VMware vSphere and Docker. The company reports sales growth of 200% quarter-over-quarter since the service became generally available in January 2015, and says companies in 17 countries have signed site-wide license agreements. Platform9 intends to use the Series B funding to accelerate its product roadmap and support a growing customer base, according to CEO Sirish Raghuram. The product model is SaaS-managed OpenStack aimed at delivering an AWS-like cloud experience on internal infrastructure.

Total raised

$100M

Funding rounds

6

Latest round

Equity

Latest activity

Jun 2022