Elevating the cloud networking platform’s valuation to $2 billion, Aviatrix has raised $200 million in additional growth funding led by TCV. The new funding round comes at the heels of a $75M Series D funding round last February.
Aviatrix’s valuation has increased to $2 billion as a result of this Series E financing, more than doubling the company’s valuation in six months since the last round.
“Enterprise adoption of a multi-cloud strategy has gone mainstream, which combined with an outstanding team drove our decision to invest in the cloud networking leader of this massive market transformation,” said Tim McAdam, general partner at TCV. “Aviatrix’s ability to quickly deliver enterprise customer value and establish itself as mission-critical in these large organizations is both impressive and indicative of long-term growth.”
Tim McAdam will join the Aviatrix Board of Directors as part of the financing round.
Existing investors CRV, Formation 8, General Catalyst, Greenspring Associates, Ignition, Liberty Global Ventures, Meritech Capital, and TrueBridge Capital Partners joined the latest funding round as well as new investors Insight Partners and Tiger Global.
Cloud Simplicity and Automation
This early-stage funding will allow the company to expand its global sales and support operations at a time when businesses are putting money into enterprise-grade cloud networking and network security.
“The transformation to cloud is being driven by CEOs to deliver business agility,” said Steve Mullaney, Chief Executive Officer (CEO) at Aviatrix. “The cloud network infrastructure can’t rely on the horrible, complex operational model of the 1990s data center to deliver on that agility. Enterprises need the visibility and security controls they had on-prem, but with the operational simplicity and automation of cloud. Only Aviatrix can deliver this value.”
With cloud-native simplicity and automation, Aviatrix provides organizations with cloud networking, network security, and operational visibility. Aviatrix and its multi-cloud network reference architecture are used by more than 550 clients across the world to design, implement, and manage a repeatable network and security architecture that is consistent across any public cloud. Aviatrix is equipped with a multi-cloud networking certification (ACE).
Founded in 1995, Aviatrix has been financing private and public companies that have grown into leading market leaders in the Internet, Software, FinTech, and Enterprise IT sectors. TCV has made over $15 billion in investments and has aided CEOs in over 135 IPOs and significant acquisitions. Airbnb, Cradlepoint, HashiCorp, Netflix, Peloton, Silver Peak, Spotify, Vectra AI, and other cutting-edge technology firms have all received investments from TCV. The investment company has offices located in Menlo Park, New York, and London, and has completed over 350 investments of various formats, including mid-stage, late-stage, and public business investments.