Platform9 has raised $25 million in Series D funding, bringing the total amount raised by the company to $61.5 million. This round was led by NGP Capital, with participation from Mubadala Ventures and all existing investors (Redpoint Ventures, Menlo Ventures, Canvas Ventures, and HPE Pathfinder). Rohini Chakravarthy, Partner at NGP Capital, joins Platform9’s board of directors with this round of financing.
“The Cloud is no longer just where the apps are hosted, but rather it is the experience of compute services being consumed and operated at scale to accelerate innovation and enable business value, regardless of where infrastructure lives,” said Rohini Chakravarthy, Partner at NGP Capital.
The funding round was driven by momentum with enterprise customers modernizing their hybrid cloud environments, driving strong year over year revenue growth of 156 percent. In addition to strong new customer growth, existing customers have grown their usage of the platform significantly, with net revenue retention of 124 percent.