Aviatrix Raises $200 Million in Funding Led by TCV, Elevating the Cloud Networking Leader’s Valuation to $2 Billion
SANTA CLARA, Calif., Sept. 8, 2021 /PRNewswire/ -- Aviatrix, the leader in cloud networking and network security, today announced it has raised $200 million in growth funding led by TCV. Additional new investors include Insight Partners and Tiger Global, while existing investors CRV, Formation 8, General Catalyst, Greenspring Associates, Ignition, Liberty Global Ventures, Meritech Capital and TrueBridge Capital Partners also participated in the round. This Series E funding raises Aviatrix's valuation to $2 billion, which has more than doubled in six months since the previous round.
"Enterprise adoption of a multi-cloud strategy has gone mainstream, which combined with an outstanding team drove our decision to invest in the cloud networking leader of this massive market transformation," said Tim McAdam, general partner at TCV. "Aviatrix's ability to quickly deliver enterprise customer value and establish itself as mission-critical in these large organizations is both impressive and indicative of long-term growth."
As part of the funding round, McAdam will also join the Aviatrix Board of Directors.
This growth-stage investment will enable the company to scale its worldwide sales and support operations at a time when enterprises en masse are investing in enterprise-class cloud networking and network security.
"The transformation to cloud is being driven by CEOs to deliver business agility," said Steve Mullaney, CEO of Aviatrix. "The cloud network infrastructure can't rely on the horrible, complex operational model of the 1990s data center to deliver on that agility. Enterprises need the visibility and security controls they had on-prem, but with the operational simplicity and automation of cloud. Only Aviatrix can deliver this value."
See how Aviatrix is helping its customers transform their businesses: https://aviatrix.com/featured-customers/
Build your career at Aviatrix: https://aviatrix.com/careers/
Learn more about Aviatrix Cloud Network Platform: https://aviatrix.com/cloud-network-platform/
Aviatrix delivers advanced cloud networking, network security and operational visibility required by enterprises with cloud-native simplicity and automation. More than 550 customers worldwide leverage Aviatrix and its proven multi-cloud network reference architecture to design, deploy and operate a repeatable network and security architecture that is consistent across any public cloud. Combined with the industry's first and only multi-cloud networking certification (ACE), Aviatrix is empowering IT to lead and accelerate the transformation to the cloud. Learn more at Aviatrix.com.
Founded in 1995, TCV was established with a clear vision: to capture opportunities in the technology market through a specialized and consistent focus on investing in high-growth companies. Since inception, the firm has built a track record of successfully backing private and public businesses that have developed into dominant industry players across internet, software, FinTech, and enterprise IT. TCV has invested over $15 billion to date and has helped guide CEOs through more than 135 IPOs and strategic acquisitions. TCV has invested in cutting edge technology companies including Airbnb, Cradlepoint, HashiCorp, Netflix, Peloton, Silver Peak, Spotify, Vectra AI, and more. TCV has successfully executed over 350 investments of varying structures, including mid-stage, late stage and public company investments, and has offices in Menlo Park, New York, and London. For more information about TCV, including a complete list of TCV investments, visit tcv.com.