Platform9 raises $10 million in Series B round of funding

By | August 18, 2015


Platform9, a cloud-based service startup announced it raising $10 million in its recent Series B round of funding led by Menlo Ventures along with the earlier investors Redpoint Ventures.

Started by four engineers in 2013, Platform9 aims to make private clouds easy for organizations of any scale. It offers cloud-based service for running latest version of the OpenStack open-source cloud software to be implemented in organizations’ on-premises data centers. The company’s architecture is quite unique as regularly companies have provided either OpenStack distributions that companies can install in their data centers or hosted versions of OpenStack for companies’ workloads. This works at the advantage and serves as the strength for Platform9.

“We have had a phenomenal year and our momentum is accelerating as organizations look to deliver an AWS-like cloud experience using their internal infrastructure. With Platform9 Managed OpenStack, organizations can now focus on accelerating innovation using internal private clouds instead of spending months or years implementing their private cloud,” said Sirish Raghuram, co-founder and CEO of Platform9. “The series B funding enables Platform9 to further accelerate our product roadmap for our growing customer base,” he added.



platform9-signup



To use it one has to sign up for the online service and install an agent on the servers and match them with your Platform9 account. This works fine with the new servers and the existing servers and the platform will work to import existing workloads from them. Once the installation is done, Platform9’s managed OpenStack cloud then manages the compute, storage and networking resources for the user and the admin can fix a usual quotas and roles using the interface of Platform9.



Since its launch, the company has reached several milestones that includes managing OpenStack for KVM environments, support for VMware vSphere environments, significant increase in the revenue momentum in the first two quarter of the sales and has received seven major industry awards. Till date the California-based startup has raised $14.5 millionĀ and companies in 17 countries have signed site-wide license agreement with the startup.