Platform9, an SaaS Managed Kubernetes provider for private and edge clouds, has closed its Series-D funding with an additional USD12.5 million for a total of USD37.5 million

This 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.

The additional funding follows accelerated business momentum in fiscal year 2020, with outstanding YoY growth led by Platform9’s Managed Kubernetes product:

• 145 per cent growth in ARR (Annual Recurring Revenue)
• 340 per cent increase in customer base
• 363 per cent growth in TCV (Total Contract Value)
• 114 per cent net revenue retention of existing customers, showing strong retention and growth within the install base

Read more

Source: Private Equity Wire