Multicloud networking and security services start-up raises $40 million
Aviatrix, a start-up focusing on networking and security for multicloud environments, has raised $40 million in Series C funding, money that in part will go toward building out its capabilities in the channel.
The Lowdown: The Santa Clara, California-based company has raised a total of $76 million since 2015 and has rapidly expanded its product and services portfolio. The latest round of funding was led by existing investor CRV and included previous investors Formation 8, Ignition Partners, and Liberty Global Ventures.
The Details: The company is looking to help the growing number of organizations that are migrating more of their businesses to the cloud and adopting multicloud strategies. Aviatrix’s myriad networking and security cloud-native products and services work with Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform. In addition, the vendor last month extended its reach to include Oracle Cloud Infrastructure.
Along with growing its channel presence, Aviatrix will use the latest funding to scale its sales, customer support, marketing, and product development to address the growing demand for its offerings.
The Impact: Aviatrix has jumped into a busy market. According to Gartner analysts, spending on public cloud services will jump from about $182 billion last year to more than $214 billion in 2019. According to Flexera’s RightScale report, 84% of enterprises have a multicloud strategy, using more than one public cloud provider.
Background: The vendor also has been busy building out its executive team. Last year, Steve Mullaney – a veteran of such networking companies as Palo Alto Networks, VMware, Cisco, and Nicira – was brought onto the board of directors and this summer named CEO. Earlier this month, Aviatrix appointed James Winebrenner, who had worked for such companies as Cisco and software-defined networking (SDN) vendor Viptela – which Cisco bought – as senior vice president of worldwide sales.
The Buzz: “Business and application owners demand networking and security teams provide the same level of resiliency, performance, functionality, and security in the cloud as they get on premises,” Mullaney said. “The basic constructs of AWS and the other public clouds don’t give enterprises the toolset required to accomplish this, and it’s causing a great deal of pain for IT moving to the cloud. Aviatrix gives enterprise IT an architecture to provide a common set of networking, security, and operational services across one or more public clouds. We’re seeing unprecedented demand from some of the largest organizations, and this latest funding will enable us to extend our demonstrable market leadership even more quickly.”
“CRV invests in people who pair market insights with proven abilities to execute,” said Devdutt Yellurkar, general partner at CRV and an Aviatrix board member. “Steve Mullaney has assembled the best go-to-market talent in the industry, fueling impressive momentum in enterprise adoption and partnerships that are driving substantial revenue growth. It’s rare for CRV to lead a Series C round, but we did so here based on the enormous opportunity. We’re incredibly excited to be a part of Aviatrix’s trailblazing journey.”