Posted on May 25, 2018 by staff

$34m raised for ‘idea-to-cloud’ platform

$34m raised for ‘idea-to-cloud’ platform

The company has seen a 110 per cent year-over-year revenue growth this year.
The company has seen a 110 per cent year-over-year revenue growth this year.

A cloud application platform has announced it has raised $34 million in a Series C funding round.

Platform.sh will use the investment to accelerate its strategy in North America and support its rapidly growing customer base in the region.

The company refers to itself as an “idea-to-cloud” application platform which allows website and app developers to publish their work faster.

“As cloud infrastructure providers have created more complexity, being able to deploy and run in the cloud requires more time, expertise and investment,” said Reza Malekzadeh, general partner at Partech and a former senior director at VMware.

“Platform.sh has an incredibly powerful solution that helps enterprises realize the full and latest potential of cloud infrastructures – speed, performance, security and more – without the growing hurdles and constraints.”

U.S.-based Partech led the round, along with Idinvest Partners, Benhamou Global Ventures (BGV), SNCF Digital Ventures and returning investor, Hi Inov.

The company is headquartered in Paris and San Francisco and boasts customers including The Financial Times, The British Council, Gap, Magento Commerce, Orange, Harvard University, and Lufthansa

More than 650 enterprise customers across the globe currently use the Platform.sh product today to develop, test, deploy and run their cloud-based web applications with speed and confidence.

Alban Wyniecki, investment director at Idinvest Partners, added: “The cloud application platform market is an incredibly fertile space, and given the impressive organic adoption of Platform.sh in the U.S., we’re investing to capture more of that demand.”

“The company’s strong traction and fast growth in North America, Europe and China signify that the company is well-positioned to become a market leader.”