Platform9, the open distributed cloud company, has closed $26 million financing led by Celesta Capital with participation from Cota Capital, NGP Capital, and other investors. This financing will help accelerate Platform9’s go-to-market (GTM) strategy and position the company to deliver scalable growth through customer-centricity, industry-focused solutions and more large-scale enterprise deployments.
Platform9 has been accelerating its business momentum for the last fiscal year with 100% year-over-year (YoY) growth led by its Kubernetes service and 132% YoY net revenue retention.
In addition to the financing, the company announced two significant appointments to the executive team to help scale the company rapidly. Former Oracle and Nokia sales executive, Emilia A’Bell joins as Chief Revenue Officer and former Intel Corporate Vice President, Ravi Jacob, joins as the company’s Chief Financial Officer.
According to the company, this financing round comes on the back of three consecutive years of 100% growth in annual recurring revenue (ARR) for SaaS Kubernetes, led by enterprise interest in cloud-native distributed clouds.