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Platform9 raises additional $12.5M Series-D funding

Published : Monday, 1 March, 2021 at 7:12 PM  Count : 181

Platform9 raises additional $12.5M Series-D funding

Platform9 raises additional $12.5M Series-D funding


Managed Kubernetes provider for private, edge, and hybrid clouds, Platform9, has closed its Series-D funding with an additional $12.5 million for a total of $37.5 million. This funding round was led by WRVI Capital, with participation from all existing venture investors including NGP Capital, Mubadala Ventures, Canvas Ventures, Menlo Ventures, and Redpoint Ventures.

Platform 9-powered Kubernets deployments have become an important part of many large-scale and complex 5G infrastructure roll-outs, hybrid cloud holder-as-a-service, and edge usage cases in the retail, media and entertainment market segments.

Additional financing with “outstanding” YoY growth driven by Platform 9-powered Cubarnets products follows accelerated business momentum in fiscal 2020:
   

ARR 145% growth (annual recurring revenue)
Customer base growth of 340%
363% growth in TCV (total contract value)
114% net revenue retention of existing customers, shows strong retention and growth in the installed base

Platform 9 also reported an NPS (Net Promoter Score) of 71 and a customer satisfaction score of 99% for 2020.





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