Platform9 raises M to help manage distributed cloud clusters – TechCrunch

Platform9 raises $26M to help manage distributed cloud clusters – TechCrunch

Platform9 raises M to help manage distributed cloud clusters – TechCrunch

Platform9, which bills itself as an “open distributed cloud company,” announced today that it has closed a $26 million funding round led by Celesta Capital with participation from Cota Capital, NGP Capital and other investors. CEO Bhaskar Gorti said the new money will be used to drive Platform9’s go-to-market strategy and product research and development, especially as the company looks for larger-scale business implementations.

Platform9 was founded by Sirish Raghuram, Madhura Maskasky, Bich Le and Roopak Parikh, who collaborated in the beginning to create various virtualization products. They hypothesized that open source ecosystems would grow into a wide variety of cloud offerings, but that enterprises needed an easier way to operationalize them. A recent McKinsey report suggests that less than 25% of cloud initiatives are meeting their time-to-market and cost targets.

Platform9 ostensibly delivers 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 come with monitoring features and integrate with third-party tools. Here, “cluster” refers to a set of work machines, called nodes, that run apps “containerized” with the dependencies and services needed to run them.

Platform9

Platform9 provides a number of tools to help manage clusters in the cloud, both in the public cloud and on-premises.

Platform9 allows the developer to install, operate and maintain clusters remotely through a software-as-a-service management plan. Capabilities include automated security patches, on-demand upgrades, and “self-healing” clusters, as well as multi-version support and audit logging.

Platform9’s service powers 40,000 nodes in private, public and edge clouds, according to Gorti.

“To create a more open cloud experience, the co-founders of Platform9 studied emerging open source work in the infrastructure space, including Apache CloudStack, OpenStack, LXD, and Kubernetes,” continues Gorti. “EThey were inspired by the agility developers achieved using public clouds, but wanted to challenge the assumption that this could only be achieved by limiting enterprises to a walled garden.”

Although Gorti declined to discuss revenues, he said Platform9 — whose funding to date is $100 million — currently has more than 60 corporate customers and 120 employees. The company grew 100% from 2021 to 2022, while retaining net sales, which calculates total sales minus sales churn (e.g. contract lapses, cancellations, and downgrades), grew 132%.

In addition to the funding, Mountain View-based Platform9 announced two executive team appointments: Emilia A’Bell and Ravi Jacob. A’Bell comes from sales executive roles at Oracle and Nokia, while Jacob was previously CVP at Intel.