Platform9, a company offering the power of the public cloud on infrastructure of clients’ choice, has raised $26 million in funding from Celesta Capital, Cota Capital, NGP Capital, and other investors. This round of funding follows three years of 100 percent annual recurring revenue (ARR) growth for SaaS Kubernetes, driven by business demand in cloud-native distributed clouds.
In addition to the funding, the firm announced two key management hires that would aid in the company’s rapid growth. Emilia A’Bell, a former Oracle and Nokia sales leader, has joined as Chief Revenue Officer, while Ravi Jacob, a former Intel Corporate Vice President, has joined as Chief Financial Officer.
Platform9’s go-to-market strategy will be aided by this funding, which will position the firm to provide scalable growth through additional large-scale corporate installations. Platform9’s business growth accelerated last fiscal year, with 100 percent year-over-year (YoY) growth powered by its Kubernetes service and 132 percent YoY net revenue retention.
“As the pioneer of the open distributed cloud architecture, Platform9 is uniquely positioned to capture a significant share of the market demand for enterprises and service providers that want to consume cloud on their terms: public, private, hybrid, edge, stores, or branches,” said Bhaskar Gorti, CEO at Platform9. “We plan to leverage this new capital to drive our GTM strategy and accelerate growth through customer-centricity, industry focused solutions, and coordinated execution.”
Emilia A’Bell has been named Chief Revenue Officer after holding top management positions at Oracle, SAP, Portal Software, and TOA Systems. Emilia A’Bell will be in charge of designing an effective GTM strategy and assembling a world-class team to generate scalable growth in this job. A’Bell will be in charge of directing the solutions architects, customer success, field sales, inside sales development, and alliances teams on taking Platform9’s “game-changing” solution to the next level.
Ravi Jacob has been appointed as Platform9’s Chief Financial Officer (CFO). He was previously Intel Corporation’s corporate vice president and treasurer. Ravi Jacob oversaw Intel’s cash and investments, debt and equity capital markets activities, currency and other financial hazards, customer credit and collections, retirement assets, and insurance problems while serving as Treasurer. Prior to that, he headed a global team responsible for arranging and executing Intel Capital’s acquisitions, divestitures, and strategic investment transactions as Vice President and Assistant Treasurer, Mergers & Acquisitions.
“Platform9 continues to expand its market presence as many enterprises make strategic bets on cloud-native services in order to deliver better customer experiences closer to where they consume these services,” said Sriram Viswanathan, founding managing partner of Celesta Capital. “Platform9’s pioneering SaaS architectural approach for managing distributed clouds is a game changer for many enterprises on their cloud-native journey.”
“Today’s modern enterprises need cloud-native technologies that enable speed and agility to propel business growth and stay ahead of the competition,” said Bobby Yazdani, founder and partner, Cota Capital. “We look forward to helping Bhaskar and the Platform9 team deliver on the promise and potential of providing customers the power of the public cloud on the infrastructure of their choice.”
Following three years of 100% ARR growth for SaaS Kubernetes, Platform9 is uniquely positioned to capture a significant share of the market demand for enterprises and service providers that want to consume cloud on their terms
Platform9 continues to expand its market presence as many enterprises make strategic bets on cloud-native services in order to deliver better customer experiences closer to where they consume these services
Emilia A’Bell has been named Chief Revenue Officer
Ravi Jacob has been appointed Chief Financial Officer