Broadcom announced the general availability of VMware Tanzu Platform 10 that establishes a new layer of abstraction across Cloud Foundry infrastructure foundations to make it easier, faster, and less expensive to bring new applications, including GenAI applications, to production.
Platform.sh Secures $140 million in Series D Funding
June 27, 2022
Platform.sh raised $140 million in Series D funding.
The round was led by Munich-based Digital+Partners, San Francisco-based Morgan Stanley Expansion Capital, and Paris-based Revaia, alongside existing investors BGV, Eurazeo, Hiinov, and Partech, all re-investing.
The funds will allow Platform.sh to build on its leading position in Europe, the US and Asia, recruiting new employees worldwide to meet its expansion goals. Building on the successful acquisition of Blackfire in May 2021 that helped the company to strengthen its offering in application performance management, Platform.sh intends to use part of the proceeds to fund future acquisitions to accelerate its organic product roll out.
Founded in 2015 and member of the FrenchTech 120 for a third year in a row, Platform.sh currently employs 340 people across 36 countries and generates north of $40m in annual recurring revenue. Its commitment to a 100% remote workforce has made it one of the hottest tech companies to work for. This funding round demonstrates the success of both Platform.sh and the growing French tech ecosystem.
"When we launched Platform.sh, we wanted to build a very powerful cloud platform that simplifies the cloud experience for web developers, making sure they spend time on developing and zero time on cloud infrastructure," said Fred Plais, CEO and Co-Founder of Platform.sh. "Our approach has quickly inspired global corporations to manage thousands of websites and applications efficiently and securely to help them make informed, greener decisions when hosting web apps. This latest round of funding will support us as we invest in third-party technology acquisition and continue to innovate."
Platform.sh was advised by KeyBanc Capital Markets, Gide and White & Case. New investors were advised by White & Case.
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