Platform9, a startup that helps companies manage their cloud software deployments across on-premises data centers and the public cloud, announced today that it raised a $22 million series C round of funding. Canvas Ventures led the round, which also included participation from Hewlett Packard Enterprise, Redpoint Ventures, and Menlo Ventures.
The infusion of funds will support an expansion of Platform9’s sales and marketing teams as the company continues to build out its customer acquisition strategy. In addition, the company will also be focused on adding features to its service that let its customers benefit from running in a hybrid cloud configuration.
One such feature under consideration is what Platform9 CEO Sirish Raghuram called “cloud arbitrage.” The idea behind it is to make it possible for companies to take advantage of shifting prices for spot instances along with the availability of on-premises compute resources to minimize their cloud bills.
“The pricing of these instances can vary, and the performance that I get from these instances can vary,” Raghuram said. “And my own data center utilization can vary. Is there a hybrid cloud solution that I can get that will dynamically take all these factors into account and seamlessly rebalance the underlying resources, so that when Amazon pricing is cheaper, it uses more Amazon instances, and when my data center is lying relatively underutilized, it’s using more of my data center capabilities?”
In his view, Platform9 is positioned to provide that sort of service, along with others tailored for businesses working in multi-cloud and hybrid cloud environments.
Platform9 is focused on helping enterprises manage software wherever it resides, which is important as many companies continue to run applications in private data centers and the public cloud. The company offers a single management console for dealing with deployments of OpenStack for infrastructure management and Kubernetes for container management across a broad set of infrastructure. It’s also developing Fission, an open source framework for building “serverless” applications on top of Kubernetes.