Open Source Cloud Infrastructure Provider Platform9 Raises $22 Million Series C Funding

Platform9, an open-source-as-a-service company “making hybrid clouds easy,” has raised $22 million in Series C funding led by Canvas Ventures. Hewlett Packard Enterprise (HPE) also participated in the round, as did existing investors Redpoint Ventures and Menlo Ventures.

The funding round, which brings Platform9’s total capital raised to date to $36.5 million, would allow the company to scale its pioneering cloud delivery model, “which makes it easy to deploy, manage and maintain hybrid clouds with popular cloud frameworks such as Kubernetes, OpenStack and Fission.”

platform9 private cloud“Enterprises today are racing to adopt the cloud, but struggle with managing numerous infrastructure silos, ranging from legacy virtualized data centers to pockets of public cloud deployments,” said Sirish Raghuram, CEO of Platform9. “With our novel SaaS approach to complex cloud frameworks, we enable infrastructure anywhere to be easily managed using industry-leading open-source frameworks such as Kubernetes and OpenStack. Today, Platform9 is enabling DevOps, reducing costs and accelerating cloud transformation for more than 200 clouds worldwide.”

The new capital enables Platform9 to scale its global salesforce, product and marketing teams, as well as boost engineering investments as it expands its innovation agenda to deliver new capabilities for hybrid clouds.

“Enterprises know they have to move to the cloud sooner or later,” said Gary Little, partner at Canvas Ventures. “But getting there is no small feat. Platform9 simplifies the challenge, helping companies migrate to cloud computing more quickly and cost effectively than any other solution. It also helps customers avoid being locked into a single cloud provider. That’s something that resonates with chief technology officers across industries.”

Ventures
Canvas is an early-stage venture capital firm based in Portola Valley, CA. Prior to joining Canvas, the firm’s partners led early-stage investments in MuleSoft, Lending Club, Houzz, Evernote, NexTag, Check, Doximity, Elance-oDesk, and more. They see themselves as “thesis investors” and currently concentrate on the areas of ‘new enterprise’ solutions, artificial intelligence, fintech, health IT, and marketplaces.